21.09.201812:14 Forex Analysis & Reviews: Intraday technical levels and trading recommendations for GBP/USD for September 21, 2018

Long-term review

Exchange Rates 21.09.2018 analysis

Previously, The GBP/USD pair was testing the depicted downtrend line which came to meet the pair around 1.3025-1.3090. This week, the pair has been demonstrating a successful bullish breakout so far.

This price zone (1.3025-1.3090) also corresponds to 50% and 61.8% Fibonacci levels. Currently, this price zone turned to become a prominent demand zone to be watched for bullish price action.

The GBP/USD pair continues to demonstrate its uptrend within the depicted bullish channel on H4 chart.

Please take into consideration that the lower limit of the depicted channel comes to meet the GBP/USD pair around 1.3190 (key-level for today's consolidations). This price level should be defended by the bulls to maintain enough bullish momentum.

As long as the current bullish breakout above 1.3090 (Demand level-1) is maintained, further bullish advance should be expected towards 1.3300 and 1.3390 (reversal pattern final target).

On the other hand, any bearish decline below 1.3190 (lower limit of the channel) leads directly towards 1.3090 (Demand level-1).

Moreover, any bearish decline below 1.3090 (Demand level-1) will probably invalidate the bullish scenario for the short-term. Hence, the pair would have lower targets around 1.3010 (Demand level-2).

*这里的市场分析是为了增加您对市场的了解,而不是给出交易的指示。

Mohamed Samy,
分析专家
InstaForex集团 © 2007-2021
立即从分析师的建议受益
充值交易账户
开设交易账户

InstaForex分析评论将让您充分了解市场趋势! 作为InstaForex的客户,您将获得大量的免费服务以实现有效的交易。

现在无法通话?
提出您的问题,用 在线帮助.