InstaForex - Analytics

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    Daily analysis of GBP/USD for March 28, 2016 2016-03-27

    GBP/USD seems to have found strong support around the 1.4059, where it is showing a possible double bottom pattern in higher timeframes. The resistance zone of 1.4151 is still pushing lower to the pair and maybe we can see a breakout higher towards the psychological level of 1.4200, in an effort to correct the recent declines.

    GBPUSDH1.png

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    H1 chart's resistance levels: 1.4151 / 1.4200

    H1 chart's support levels: 1.4093 / 1.4056

    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 at 1.4151, take profit is at 1.4200 and stop loss is at 1.4100.


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