empty
 
 
23.02.2015 12:58 PM
Weekly technical levels for GBP/USD for February 23-27, 2015
The weekly technical levels for GBP/USD pair:
This image is no longer relevant
Overview:
  • According to the previous events, the price of the GBP/USD pair is still below the weekly pivot point (1.5397). Posteriorly, the descending movement will perhaps be lower than the level of 1.5395. As it is familiar, history will probably repeat itself at this level again. Consequently, it will be a good sign to sell below the weekly pivot point (1.5397) with the first target of 1.5315 in order to test the double bottom. Moreover, it should be noted that the double bottom is coinciding with the weekly support 1 on February 23, 2015. Then, it will call for a downtrend to continue its bearish movement towards the price of 1.5233, which represents the weekly support 2 forthcoming. Also, it should be noticed that stop loss should always be taken into account. Hence, it will be very beneficial to set your stop loss and it should never exceed your maximum exposure amounts. Therefore, stop loss should be placed above the resistance level at the price of 1.5423.
This image is no longer relevant
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