InstaForex - Analytics


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    Daily analysis of GBP/USD for February 10, 2016 2016-02-10

    GBP/USD is performing a bullish consolidation above the level of 1.4436 where the 200 SMA is located. Currently, we can expect a push higher towards the level of 1.4535, which is a key inflection area formed during the February 8 session. The fractal structure is also calling for new highs, as the pair is performing a rebound following the main bias.


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    H1 chart's resistance levels: 1.4535 / 1.4602

    H1 chart's support levels: 1.4436 / 1.4369

    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 1.4535, take profit is at 1.4602, and stop loss is at 1.4470.

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