empty
 
 
26.03.2015 12:08 PM
Daily analysis of GBP/USD for March 26, 2015

There is the bullish momentum in the current bias on the daily chart because the GBP/USD pair is trying to perform a breakout at the resistance level of 1.4948 in order to reach the zone of 1.5087. Currently, our odds are in favor of the overall bearish trend because the current structure is showing us that the 200 SMA is bearish.

This image is no longer relevant


Now, on the H1 chart, GBP/USD is finding resistance at the level of 1.4984 after being trapped in a low-range zone in the half of the 200 SMA. Anyway, the pair is currently unable to trade in an intraday basis because GBP/USD could perform deeper pull backs to the support level of 1.4842 and later perform some kind of rebound.

This image is no longer relevant


Daily chart's resistance levels: 1.4948 / 1.5087

Dailychart's support levels: 1.4820 / 1.4649

H1 chart's resistance levels: 1.4984 / 1.5022

H1 chart's support levels: 1.4921 / 1.4842



Trading recommendations for today: Based on the H1 chart, place short (sell) orders only if the GBP/USD pair breaks a bearish candlestick; the support level is at 1.4921, take profit is at 1.4842, and stop loss is at 1.5001.

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