Daily analysis of GBP/USD for December 14, 2015



The GBP/USD pair is forming a higher high pattern above the support level of 1.5181, after a bullish consolidation performed above the 200 SMA on the H1 chart. However, the pair is trying to do some consolidation moves in a slow bias, so we should be aware of any deeper pullbacks that could make this pair to test the support level of 1.5122. The MACD indicator is at the positive territory.

H1 chart's resistance levels: 1.5238 / 1.5302
H1 chart's support levels: 1.5181 / 1.5122
Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is seen at 1.5238, take profit is at 1.5302, and stop loss is at 1.5178.

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