GBPUSD Daily Analysis – November 15, 2017

GBPUSD failed to break below 1.3027 support once again and stays in the trading range between 1.3027 and 1.3337. Sideways movement in the range could be expected to continue in a couple of days. Near term resistance is at 1.3229, a break of this level could trigger another rise towards 1.3337. Above this level would aim 1.3470 area. Near term support is at 1.3027, below this level will indicate that the downtrend from 1.3657 (Sep 20 high) has resumed, then the following downside movement could take price towards 1.2774 support.

GBPUSD 4-hour chart