empty
 
 
28.05.2014 07:17 AM
Daily analysis of GBP/USD for May 28, 2014

Daily chart: The GBP/USD had a fall below the resistance level of 1.6851, but now, this pair is finding support at the bullish trend line. If the pair manages to make a breakout at the support level of 1.6766, it's expected to fall to the level of 1.6663, which might perhaps begin a new bearish trend in the long term. The MACD indicator is in negative territory.

This image is no longer relevant

H4 chart: The GBP/USD has found support at the 1.6785 level. If the pair manages to make a breakout at that level, it would be expected to fall to the level of 1.6762. On the other hand, if the GBP/USD manages to make a breakout at the 1.6822 level, it's expected to rise to the level of 1.6841. The MACD indicator is in negative territory.

This image is no longer relevant

H1 chart: This pair is finding support at the point of control, but now the GBP/USD is forming a bearish pattern above the support level of 1.6800. If the pair manages to make a breakout at that level, it would be expected to fall to the level of 1.6750. The MACD indicator is moving into positive territory.

This image is no longer relevant

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

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