InstaForex - Analytics


    734.75 6.25/10
    62% of positive reviews

    Daily analysis of GBP/USD for February 26, 2016 2016-02-26

    The GBP/USD pair is trying to break the support level of 1.3963, but we have witnessed rejection from that level, and now the pair is doing a corrective move towards the level of 1.4069. On the H1 chart, we should note that a 200 SMA is pointing to the downside and favoring the bearish scenario. The MACD indicator is still in the positive territory and this could be supporting the bullish bias.


    Show full picture

    H1 chart's resistance levels: 1.4069 / 1.4165

    H1 chart's support levels: 1.3963 / 1.3878

    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 found at 1.3963, take profit is at 1.3878, and stop loss is at 1.3976.

    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