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    MARKET ANALYSIS AND NEWS GBPUSD Weak after daily shooting star Market News

    GBPUSD, 240 min

    GBPUSD created a daily shooting star candle yesterday and fell outside the rising channel in today’s trading.  The pair is about to create a four hour shooting star candle which suggests that the sellers are rejecting the rally attempts to the area above 1.4400. In the daily chart the Stochastics is getting overbought while the weekly resistance level at 1.4500 is relatively close.

    I am therefore looking for sell signals inside the above sell area between 1.4395 and 1.4445. Target 1 for successful short entries is at 1.4174-1.4214 and Target 2 at 1.4033-1.4085. Please, remember to apply risk appropriate management measures and come to our webinars to learn more should feel the need for further education.

     

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    Janne Muta

    Chief Market Analyst

    HotForex

    Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.


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