empty
 
 
07.02.2019 08:39 AM
Technical analysis of GBP/USD for 07/02/2019

Technical market overview:

The GBP/USD pair has fallen towards the technical support at the level of 1.2924 and has tested this level twice already. Every time the bounce was small, but the persistence of bulls is making this level quite important, so a local pullback towards the level of 1.2978 or even 1.3000 before the continuation of the downtrend would not be surprising. The extremely oversold market conditions support the short-term bullish view.

Weekly Pivot Points:

WR3 - 1.3333

WR2 - 1.3261

WR1 - 1.3158

Weekly Pivot Point - 1.3101

WS1 - 1.2987

WS2 - 1.2928

WS3 - 1.2810

Trading recommendations:

All the targets for sell orders have been hit, so those trades should be closed at a profit. Currently, the market is consolidating and we are waiting for antother treding setup to occur. It is time to wait and it is time to trade.

This image is no longer relevant

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 $1000 more!
    In April 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

Recommended Stories

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