15 November GBP/USD outlook

Stochastic oscillator stays flat in oversold zone, MACD oscillator shows mixed signals. It is hard to determine the long term trend. Currently the pair stands on the following critical levels: R2- 1.5921 R1- 1.5879 P- 1.5859 S1- 1.5818 S2- 1.5797 As long as the pair stands below the daily pivot at 1.5859, the pair stands on bearish bias down to 1.5756. However breaking above 1.5859 traders could expect targets towards 1.5941 level. R=Resistance P= Daily Pivot S= Support