Daily analysis of GBP/USD for December 26, 2017 26.12.2017

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GBP/USD still comatose around the 200 SMA and awaits for a catalyst that decides the next path in the short-term. That moving average could act as a dynamic resistance for the pair and it could help to push lower in order to strengthen the bearish path. The critical level to the downside remains at 1.3303, ahead of 1.3234.

Exchange Rates 26.12.2017 analysis

H1 chart’s resistance levels: 1.3444 / 1.3516

H1 chart’s support levels: 1.3303 / 1.3234

Trading recommendations for today: Based on the H1 chart, buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.3444, take profit is at 1.3516 and stop loss is at 1.3372.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Performed by Felipe Erazo,
Analytical expert
InstaForex Group © 2007-2017

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