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28.01.2014 02:17 AM
Technical analysis of GBP/USD for January 28, 2014

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Trading recommendations:

  • Pair: GBP/USD
  • Date: 28/1/2014
  • According to the previous events, the price of the GBP/USD pair has still been moving between 1.6640 and 1.6515.

Long buying:

  • Buy above 1.65 in the short term with the first target of 1.6566, it might resume to 1.6634 (the weekly resistance 1).

Short selling:

  • Outlook 1: Swing trade at 1.6666 in order to sell with a traget of 1.6520 in order to test the weekly pivot point at the level of 1.6514.
  • Outlook 2: The area below 1.6500 looks for further downside with 1.6463 and 1.6395 as targets.

Notes:

  • It should be noted that the market will turn bearish from the level of 1.6666.
  • Volatility:145.42; therefore, the market indicates the higher volatility.
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