GBPUSD Daily Analysis – November 7, 2017

GBPUSD failed to break below 1.3027 support and stayed in the trading range between 1.3027 and 1.3337. Another rise towards 1.3337 resistance would likely be seen in the coming days. Above this level could take price to the bearish trend line on its weekly chart now at around 1.3470. Key support is at 1.3027, a breakdown below this level could signal resumption of the downtrend from 1.3657, then next target would be at 1.2774.

GBPUSD 4-hour chart