empty
 
 
28.07.2014 11:19 AM
Technical analysis of GBP/USD for July 28, 2014
This image is no longer relevant

Trading recommendations:

  • According to the previous events, the GBP/USD pair is going to move between the level of 1.7003 and 1.6717. The resistance is set at the level of 1.7015. Consequently, the market will indicate a bearish opportunity below the price of 1.7015, because the spot of 1.7015 -1.7000 is going to act as strong resistance on July 28, 2014. Accordingly, it will be a good sign to sell below this level today with the first target of 1.6945 in order to test the weekly support 1 in H1 chart. Also, it should be noted that the price 1.6945 coincides with the ratio of 50% Fibonacci retracement levels. Moreover, if the trend succeeds to close below 1.6945, then the market will continue in the downtrend below the weekly support 1 towards the level of 1.6905. On the other hands, the stop loss should be placed above 1.7020 at the price of 1.7045.
Summary
Urgency
Analytic
Mourad El Keddani
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