InstaForex - Analytics

    InstaForex

    695.00 6.50/10
    61% of positive reviews
    Real

    Daily analysis of GBP/USD for March 13, 2015

    On the daily chart the pair is still showing a solid bearish structure and it is getting ready for breaking the support level of 1.4820. Remember that low is very important as that level is a fresh multi-year low. For now, we could expect a bearish pattern formation and, more probably, some retracements because the GBP/USD pair will reach oversold levels in lower time frames soon.

    GBPUSDDaily.png

    Show full picture

    The GBP/USD pair will finish developing a lower low pattern formation on the H1 chart because the pair is doing a breakout at the support level of 1.4844. To the downside, the pair will find a support at the zone of 1.4746. Also, GBP/USD will get more bearish momentum in the near term because the MACD indicator is still in a solid negative territory.

    GBPUSDH1.png

    Show full picture

    Daily chart's resistance levels: 1.4948 / 1.5086Dailychart's support levels: 1.4820 / 1.4649H1 chart's resistance levels: 1.4891 / 1.4948H1 chart's support levels: 1.4844 / 1.4746

    Trading recommendations for today: Based on the H1 chart, place short (sell) orders only if the GBP/USD pair breaks a bearish candlestick; the support level is at 1.4844, take profit is at 1.4746, and stop loss is at 1.4940.

    Felipe Erazo neemt deel aan de "Analyst of the Year" onderscheiding georganiseerd door MT5.com 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