AvaTrade - Analytics


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    GBP/USD- Still bullish, will you trade?

    The GBP/USD pair is trading above its upward trend line on a 4 hour time frame. The price is also trading above its 50 and 100 day moving average shown in green and in red colours respectively. This confirms that the trend is strongly towards the upside and as long as the price stays above these averages, the bias remains towards the upside.

    The RSI is trading in line with the price action which means that the upward move has a momentum behind this. However, it is important to note that the RSI is trading in over bought region and this usually calls for correction.

    GBPUSD  12-10-2015

    Important Zones

    1.5158-1.582 Support Zone

    1.5530-1.5477 Resistance Zone

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