InstaForex - Analytics


    699.25 6.25/10
    61% of positive reviews

    Daily analysis of GBP/USD for February 06, 2015

    Bulls are taking control of the GBP/USD pair, as this pair had a strong bullish momentum above the support level of 1.5247, with near-term target at the level of 1.5491. Probably, the GBP/USD pair will start to form a bullish pattern in order to reach that resistance zone. By the way, we recommend to be cautious when you trade against the trend, because the main bias is still bearish.


    Show full picture
    The GBP/USD pair worked well on the bullish side above the 200 SMA, that is also pointing upwards. At the moment, the GBP/USD pair is forming a higher high pattern above the support level of 1.5302, with a strong resistance zone on the way to 1.5349. If a breakout happens there, the pair is expected to reach the resistance level at 1.5415.

    Show full picture
    Daily chart's resistance levels: 1.5491 / 1.5637 Dailychart's support levels: 1.5247 / 1.5025 H1 chart's resistance levels: 1.5340 / 1.5415 H1 chart's support levels: 1.5302 / 1.5249

    Trading recommendations for today: Based on the H1 chart, place long (buy) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.5340, take profit is at 1.5415, and stop loss is at 1.5262.

    Felipe Erazo 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
    InstaForex Group © 2007-2015

    To leave a comment you must or Join us

    By visiting our website and services, you agree to the conditions of use of cookies. Learn more
    I agree