Technical Analysis Daily: GBP/USD

Daily Forex Technicals | Written by iFOREX.bg | Nov 18 09 09:05 GMT |

GBP/USD 1.6789 GBP/USD Open 1.6813 High 1.6868 Low 1.6757 Close 1.6810 On Tuesday Pound/Dollar traded hesitantly, reaching a top at 1.6868, than dropping down to the 1.6757, closing the day at 1.6810. Our expectations remain bullish in the short term with objectives towards 1.7000, followed by attempts towards 1.7140. However, the CCI indicator is in the overbought zone and downward of the 3 hour chart, so be careful for potential downward pressure with potential test of the 1.6755 support. Break bellow this level might trigger subsequent descending momentum. The CCI indicator is about to cross up the 100 line on the 1 hour chart, suggesting bullish pressure. Technical resistance levels: 1.6870 1.7000 1.7140 Technical support levels: 1.6755 1.6630 1.6480 Trading range: 1.6875 - 1.6850 Trend: Upward Buy at 1.6789 SL 1.6759 TP 1.6839 iFOREX.bg Forecasts and Trading Signals http://www.zifx.com