InstaForex - Analytics

    InstaForex

    699.25 6.25/10
    61% of positive reviews
    Real

    GBP/USD intraday technical levels and trading recommendations for January 2, 2015

    gbpddd.jpg

    Show full picture
    gbp4hh.jpg

    Show full picture

    Overview:

    The GBP/USD pair has been moving downward respecting the depicted bearish channel since mid-September when the ongoing channel was initiated.

    Recently, the market failed to express bullish breakout above the price level of 1.5760 (upper limit of the daily bearish channel).

    Instead, extensive bearish breakout was applied against the price levels of 1.5540-1.5560 (this breakdown was successfully executed on December 23).

    Note that DAILY fixation below the recent bottoms established around 1.5540-1.5560 renders the current consolidation range as a bearish flag pattern with potential projected target at 1.5310 (similar to what happened back in October 2014).

    Key level for the current week's movement is 1.5600. Persistence below it signals more bearish dominance in the market towards the previously mentioned projection target at 1.5310.

    Mohamed Samy neemt deel aan de "Analyst of the Year" onderscheiding georganiseerd door MT5.com portal. Als u zijn artikel goed vindt, stemt u dan op hem.

    Uitgevoerd door, Analytische expert
    InstaForex Group © 2007-2015

    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