InstaForex - Analytics

    InstaForex

    694.50 6.50/10
    61% of positive reviews
    Real

    Daily analysis of GBP/USD for May 21, 2015

    The pair remains alive on the downside risk in the daily chart, because there is no bullish price action favored at this time and the current structure seems to be telling us about a corrective move in favor of the upward trend. However, GBP/USD could have another push lower, at least until the support level of 1.5346, in the medium term.

    GBPUSDDaily.png

    Show full picture

    GBPUSDH1.png

    Show full picture

    Daily chart's resistance levelsDailychart's support levelsH1 chart's resistance levelsH1 chart's support levels

    Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the GBP/USD pair breaks a bearish candlestick; the support level is at 1.5513, take profit is at 1.5443, and stop loss is at 1.5584.


    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