AvaTrade - Analytics

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    GBP/USD- Downward channel broken, What next?

    The GBP/USD pair has broken its downward channel on a 30 minute time frame. The price is trading below the downward trend line and this confirms that the trend is towards the downside. Any upward move for the price could find its first resistance near the lower line of the downward channel. The volatility for the price is back to normal as it is trading within the Bollinger bands.

    The RSI and the MACD indicators are trading in line with the price action and this means that we could still more upward move towards the upside.

    FBPUSD 05-01-2015

    Important Zones

    Support Zone

    1.5087-1.5153 Major

    Resistance Zone

    1.5747-1.5785 Minor

    1.5946-1.5891 Major


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