empty
 
 
10.06.2014 02:49 AM
Daily analysis of GBP/USD for June 10, 2014

Daily chart: The GBP/USD continues to make corrective moves below the resistance level of 1.6851. This pair could fall to the support level of 1.6766 in coming days, as the GBP/USD would have to perform corrective movements to continue making bullish movements. However, expect a breakout at the resistance level of 1.6851 to continue placing buy orders. The MACD indicator is in positive territory.

This image is no longer relevant

H4 chart: This pair has made a bullish rebound above the 200 SMA, because the GBP/USD continues to find support at the 200-day moving average, so this pair is kept alive in the bullish outlook. However, if the pair manages to make a breakout at the support level of 1.6785, it is expected to fall to the level of 1.6762. The MACD indicator is in negative territory.

This image is no longer relevant

H1 chart: The GBP/USD has made a pullback near the 1.6840 level, so this pair is finding support at the point of control and the 200 SMA. If the pair manages to make a breakout at the resistance level of 1.6850, it would be expected to rise to the level of 1.6900. 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 1.6850, take profit is at 1.6900, and stop loss is at 1.6750.

Summary
Urgency
Analytic
InstaForex Analyst
Start trade
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 $6000 more!
    In December we raffle $6000 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
  • 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