GBP/USD with L.Vereshchagin (Nov. 25)
GBPUSD: technical analysis (Nov. 25)
Chart 1. Daily GBP/USD
There’s a strong resistance at $1.6250. We are still waiting for the confirmation on the daily chart. The picture at H4 is more interesting as the signal there is confirmed.
Chart 2. H4 GBP/USD
Stop Loss: $1.6270
Take Profit: $1.6085
Chart 3. H1 GBP/USD
There’s an uptrend on H1. As GBP is close to resistance, we don’t consider this line while choosing a take profit.
Technical analysis by Leonid Vereshchagin
Independant FX trader, coach and analyst