empty
 
 
06.03.2013 05:58 PM
GBP/USD - expectation of rebound - for March 06, 2013 (daily strategy)

Despite the presentation of the BoE Governor Mervyn King the pound did not raise its head and was pressed down in the European session. This morning it has been trading at 1.5075, above the psychological level of 1.50. Probably there is one pair consolidation at this level, and in view of this, the pair has kept downward pressure for several days. Many traders are waiting for a bounce upward to re-sell this pair. Therefore we expect the pair to reach fractal level nearby, which is in 1.5268, and if this level is broken, the strongest resistance is found in 1.5614. So you can buy at current price levels, the momentum indicator is showing bullish sign for the next few days.

This image is no longer relevant

If you need personal consultation, contact me via e-mail: [email protected]

InstaForex Analyst,
Analytical expert of InstaForex
© 2007-2025
Summary
Urgency
Analytic
InstaForex Analyst
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $6000 more!
    In December we raffle $6000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback