empty
 
 
23.03.2012 03:39 PM
GBP/USD Intraday Technical Analysis and Trading Recommendations for March 23, 2012

This image is no longer relevant

According to the linear regression channels the chart indicates the following:

During the past few hours the GBP/USD currency pair showed a considerable bullish strength manifested in the long bullish candlesticks breaking the upper limit of the bearish violet channel at 1.5820.

Bullish movement found resistance at the upper limit of the Yellow channel around 1.5877 which boosted the downside movement of the pair.

Price level 1.5820 corresponds to the upper limit of the broken violet channel and the intermediate line of the yellow one which constitutes an important intraday support for the pair and a good Intraday BUY entry.

Stop Loss is to be located below 1.5765; Take Profits is to be placed at 1.5860 and 1.5920 levels.

Summary
Urgency
Analytic
Mohamed Samy
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 $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
  • 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