empty
 
 
10.04.2014 06:06 AM
Daily analysis of GBP/USD for April 10, 2014

Daily chart: This pair has consolidated above the support level of 1.6766 after the GBP/USD has successfully performed a breakout at that level. It is very likely that this pair will rise to the resistance level of 1.6851. If GBP/USD manages to make a breakout at that level, it would be expected to rise to the level of 1.7000. The MACD indicator is in positive territory.

This image is no longer relevant

H4 chart: The GBP/USD has consolidated above the bearish trend line near to the 1.6730 level. If the pair manages to make a breakout on the resistance level of 1.6822, it's expected to rise to the level of 1.6950 in the medium term. However, if the pair manages to make a breakout in the support level of 1.6785, it's expected to fall to the level of 1.6730. The MACD indicator is in positive territory.

This image is no longer relevant

H1 chart: The GBP/USD has made a breakout at the 1.6750 level where it has formed a point of control and now this pair is forming a lower high pattern above that level. If the pair manages to make a breakout on the resistance level of 1.6800, it's expected to rise to the level of 1.6850. The MACD indicator is in positive territory.

This image is no longer relevant

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.6800, take profit is at 1.6850, and stop loss is at 1.6750.

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 $9000 more!
    In May we raffle $9000 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