GBPUSD Daily Analysis – November 9, 2016

GBPUSD is facing 1.2330 support, a breakdown below this level will indicate that the upward movement from 1.1946 had completed at 1.2557 already, then further decline to test 1.1946 previous low support could be seen. However, as long as 1.2330 support holds, the fall from 1.2557 would possibly be consolidation of the uptrend from 1.2082, further rise to 1.2650 area is still possible.

gbpusd chart