empty
 
 
02.09.2015 01:08 PM
Technical analysis of GBP/USD for September 2, 2015
This image is no longer relevant

Review:

  • The support will be at the level of 1.5215, and the new double bottom is going to set at the same price in coming minutes.
  • The GBP/USD pair called for the bearish market from the price of 1.5330 today. So, the price of 1.5330 is representing strong resistance. Moreover, the level of 1.5330 is coinciding with the ratio of 00% Fibonacci retracement levels.
  • The market was calling in downtrend for that the trend broke the support (1.5330). Thereupon, the resistance became a strong resistance since yesterday.
  • Therefore, it will be very useful to sell at this level with targets of 1.5240 and 1.5215. The stop loss should never exceed your maximum exposure amounts. Thus, set your stop loss at the price of 1.5375.
  • We expect a new range about 115 pips (1.53330- 1.5215) today.

Observations:

  • If the trend is of an upside character, the strength of the currency pair will be defined as follows: GBP is in uptrend and USD is in downtrend.
  • Please check out the market volatility before investing because the sight price may have already been reached and scenarios might have become invalidated.
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
  • 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