empty
 
 
07.02.2019 12:59 PM
GBP/USD analysis for February 07, 2019

This image is no longer relevant

The GBP/USD pair broke the short-term support at the price of 1.2925 and confirmed downside continuation. So far, we still see that sellers are in control and that trend is bearish. Price is still trading below the Ichimoku cloud on the H1 time, which is a sign of weakness. My advice is to watch for selling opportunities.

1.2914 – Intraday resistance – Tenkan-sen yellow line

1.2935 – Intraday resistance – Kijun-sen purple line

Trading recommendation: We are bearish on GBP/USD from 1.2900 and a downward target at the price of 1.2825. Protective stop is placed at 1.2935

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