InstaForex - Analytics


    736.75 6.25/10
    62% of positive reviews

    Daily analysis of GBP/USD for October 22, 2015

    A current intraday trand is calling for a correction in favor of bearish force. So the pair could make a rebound above the 200 SMA in the H1 chart, with a possible target towards the resistance level of 1.5458, which is a level that has been tested several times. However, this scenario could change when the cable performs a consolidation below the support level of 1.5374 with a lower low pattern formation. The MACD indicator is entering the negative territory.


    Show full picture

    H1 chart's resistance levels: 1.5458 / 1.5506

    H1 chart's support levels: 1.5411 / 1.5374

    Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is seen at 1.5458, take profit is at 1.5506, and stop loss is at 1.5411.

    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