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    Technical analysis of GBP/USD for February 4, 2015


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    • The market of the GBP/USD pair was not stabilized because the trend has been moving between 1.5053 and 1.5224 for a while. Be careful in the area of 1.5091 - 1.5246. So, the first step is waiting at this spot before investing. As a result, the GBP/USD pair might start showing signs of bullish market at the level of 1.5091 which represents the weekly pivot point. In other words, it will be a good sign to buy above the price of 1.5091 with the first target of 1.5200 in order to test the weekly resistance 1. It will call for the uptrend to continue its bullish movement towards 1.5284 to form the double top on the H1 chart. However, the pair could not break the second resistance 1.5326. Consequently, the market will indicate a bearish opportunity at the spot of 1.5326. Thus, the level of 1.5326 will act as strong resistance today. So, it is providing a clear signal for sell deals with the target seen at 1.5066. On the other hand, the stop loss should be placed above 1.5338.

    Mourad El Keddani neemt deel aan de "Analyst of the Year" onderscheiding georganiseerd door portal. Als u zijn artikel goed vindt, stemt u dan op hem.

    Uitgevoerd door, Analytische expert
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