Daily analysis of GBP/USD for November 12, 2014



At the H4 chart, the GBP/USD pair made a bullish consolidation above the support level of 1.5874. The next goal on the bullish road would be the resistance level of 1.5951. We must highlight the fact that this pair has been following the bearish bias for several weeks. So, it's normal to see these corrective movements. The MACD indicator remains in the positive territory.
H4chart's resistance levels: 1.5951 / 1.6004
H4chart's support levels: 1.5874 / 1.5811


More analysis - at instaforex.com