empty
 
 
12.02.2014 05:59 PM
Intraday technical levels and trading recommendations for GBP/USD for February 12, 2014

This image is no longer relevant

From fundamental standpoint, positive news came from the Bank of England monetary committee which expects the unemployment rate to reach 7% by the first quarter of 2014.

This accelerated the ongoing bullish impulse towards 1.6570, according to the fundamental data released earlier today.

Today, the GBP/USD bulls managed to bypass/breach the previously established descending bottom at 1.6470 which is considered an Intraday DEMAND for the pair now.

The nearest SUPPLY level is located at 1.6570 where a recent top was established on December 31. It's expected to apply some bearish pressure on the pair to retrace towards 1.6470 initially.

This image is no longer relevant

As expected, bullish pressure was applied at retesting of the backside of the broken bearish channel depicted on the chart around 1.6250.

This pushed the pair higher again towards 1.6470 which was broken through earlier today opening the way towards the next resistance around 1.6570.

Price level of 1.6470 is now considered a prominent DEMND level to offer a valid BUY entry at retesting.

Price level of 1.6570 probably offers a valid SELL entry with SL as daily closure above 1.6600.

InstaForex Analyst,
Analytical expert of InstaForex
© 2007-2024
通过InstaForex赚取加密货币汇率变动的收益。
下载MetaTrader 4并开启您的第一笔交易。
  • 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 $1000 more!
    In June we raffle $1000 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
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

推荐文章

现在无法通话?
提出您的问题,用 在线帮助.
Widget callback