Site map
العربية Български 中文 Čeština English Français Deutsch हिन्दी Bahasa Indonesia Italiano Bahasa Malay اردو Polski Português Română Русский Srpski Slovenský Español ไทย Nederlands Українська Vietnamese বাংলা Ўзбекча O'zbekcha Қазақша

InstaForex Client Area

  • Personal settings
  • Access to all InstaForex services
  • Detailed statistics and reports on trades
  • Full range of financial transactions
  • System of managing several accounts
  • Maximum data protection

InstaForex Partner Area

  • Full information on clients and commissions
  • Graphic statistics on accounts and clicks
  • Webmaster instruments
  • Ready-made web solutions and wide range of banners
  • High data protection level
  • Company's news, RSS feeds, and forex informers
Register account
Affiliate Program
cabinet icon

Another Lamborghini from InstaForex!Maybe it will be you who will take the keys!

Just make a deposit of at least $1,000 to your account!

Get the best trading conditions and attractive bonus offers! We have already given 6 legendary sports cars! But it does not stop there! The next Lamborghini Huracan of the latest generation may be yours!

InstaForex – invest in your victories!

Instant account opening

Get a letter of instructions
toolbar icon

Trading Platform

For mobile devices

For trading via browser

InstaForex Bonuses

InstaForex Bonuses

Exchange Rates 16.05.2018 analysis

Technical outlook:

We have been vouching for a potential larger degree top in place in GBP/USD since mid April 2018 when 1.4376 highs were formed. Since then the pair has unfolded into 5 waves seen on smaller timeframes, breaking below the trend line support as seen here. Please note that GBP/USD is trading well below its critical past support at 1.3700 levels. The above criteria confirms that medium term trend for GBP/USD has reversed lower already and bears should remain in control going forward. Selling on rallies will remain a safe trading strategy going forward. Looking into the wave counts, a larger degree wave (4) seems to be terminated at 1.4375 levels and subsequent drop through sub 1.3460 levels has unfolded into 5 waves (impulse) forming wave 1 of the resumed downtrend. If this count holds to be true, GBP/USD is now expected to produce a counter trend corrective rally that may push prices at least towards 1.3800 levels or upto 1.4000 levels going forward.

Trading plan:

Aggressive traders might want to go long with tight stop below the 1.3450 levels. Conservative traders may look to sell again on rallies through 1.4000 levels.

Fundamental outlook:

Watch out for ECB president Draghi's speech in Frankfurt at 08:00 AM EST.

Good luck!

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Performed by Harsh Japee,
Analytical expert
InstaForex Group © 2007-2018
Benefit from analysts’ recommendations right now
Top up trading account
Get a bonus from InstaForex

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.