InstaForex - Analytics

    InstaForex

    699.25 6.25/10
    61% of positive reviews
    Real

    Daily analysis of GBP/USD for April 01, 2015

    At the daily chart, bears remain in the control of the GBP/USD overall trend, thanks to the current price action. That is forming bearish patterns. The downside target is still located at the support zone of 1.4649. We expect the GBP/USD pair to test that zone in order to make a possible bearish breakout. The MACD indicator is at a neutral territory.

    GBPUSDDaily.png

    Show full picture

    At yesterday's session, we saw a pullback at the 200 SMA in the H1 chart, as the pair was trying to fall to the support level of 1.4721 again, which has not been visited from the March 20 session. Now, one would expect a lower low pattern formation at the current levels, in order to reach new lows in the short and medium terms.

    GBPUSDH1.png

    Show full picture

    Daily chart's resistance levels: 1.4820 / 1.4948Dailychart's support levels: 1.4649 / 1.4505H1 chart's resistance levels: 1.4842 / 1.4921H1 chart's support levels: 1.4774 / 1.4721

    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 1.4774, take profit is at 1.4721, and stop loss is at 1.4825.

    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