GBP/USD Daily technical analysis November 20, 2014


GBP/USD Daily Technical Analysis November 20, 2014
currency pair movement [main scenario]
The pair is changing its movement into the ascending one, Tenkan and Kijun lines are moving in parallel, the price is located between them, as well as above the descending cloud, the further ascending movement is being forecast. One should buy the pair above the 1,5645 support level, set take profit at following resistance levels - 1,5665, 1,5690, 1,5715.
currency pair movement [alternative scenario]
If the pair succeeds to break through and get fixed below the 1,5645 support level, in such a case the further descending movement till these support levels - 1,5625, 1,5600 is very possible.
LEVELS
Resistance: 1,5665; 1,5690 1,5715.
Support: 1,5645; 1,5625; 1,5600.

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