empty
 
 
08.08.2012 10:13 AM
GBP/USD Intraday Technical Analysis

This image is no longer relevant
 

 

As we predicted yesterday, the spot rate broke the upper limit of its medium term bearish channel at 1.5580 leading to acceleration. A pull back on these levels is expected before resumption of a bullish trend. However, a break of these levels will invalidate this scenario and a violent bearish movement would be possible. Moreover, a short bullish channel has been formed and the lower limit of it strengthens the level of 1.5580.
Technical indicators provide sell signals supporting the assumption of a pullback but also can possibly result in decline. Bollinger bands have greatly tightened in recent days showing a decline in volatility and the imminence of a violent movement.
We recommend to buy the spot rate on the levels of 1.5580 with the 1st objective at 1.5640 and then at 1.5660. A breakthrough 1.5560 will alter this scenario.

InstaForex Analyst,
Analytical expert of InstaForex
© 2007-2026
Summary
Urgency
Analytic
InstaForex Analyst
Start trade
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 $10000 more!
    In January we raffle $10000 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

推荐文章

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