InstaForex - Analytics

    InstaForex

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    Daily analysis of GBP/USD for March 09, 2016 2016-03-09

    The pair is currently supported by the level of 1.4183, where we can expect a rebound towards the resistance level of 1.4267. The short-term picture is still strong in a bullish bias and that is why we should see more upside afterwards. Also, the 200 SMA in the H1 chart is currently flat, showing some neutrality in the market.

    GBPUSDH1.png

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    H1 chart's resistance levels: 1.4267 / 1.4333

    H1 chart's support levels: 1.4183 / 1.4069

    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 1.4267, take profit is at 1.4333, and stop loss is at 1.4202.


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