InstaForex - Analytics

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    Daily analysis of GBP/USD for February 15, 2016 2016-02-15

    No considerable changes were seen in the GBP/USD structure last week, as the pair is still doing a consolidation move above the 200 SMA in the H1 chart. It's trying to break out the resistance zone of 1.4535. If the pair achieves in breaking that area, then we can expect a rally towards the level of 1.4602 where the key resistance zone formed during the February 3rd session is located.

    GBPUSDH1.png

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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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