InstaForex - Analytics


    734.75 6.25/10
    62% of positive reviews

    Daily analysis of GBP/USD for February 22, 2016 2016-02-22

    The H1 chart is showing us a bearish gap left below the 200 SMA in this time frame. Currently, we can expect a breakout lower towards the support zone of 1.4206. However, if the pair finds strong bottom at current stage, then it could perform a rebound and rally towards the 1.4436 level, which is above the moving average. MACD indicator is on the negative territory and supporting the bearish idea.


    Show full picture

    H1 chart's resistance levels: 1.4369 / 1.4436

    H1 chart's support levels: 1.4282 / 1.4206

    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 1.4282, take profit is at 1.4206, and stop loss is at 1.4470.

    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