empty
 
 
11.09.2015 01:23 AM
Daily analysis of GBP/USD for September 11, 2015

GBP/USD has already tested the resistance level of 1.5479, where the pair could start to develop a higher high pattern on the daily chart. This level should be broken in order to rise until the 200 SMA, which is located near 1.5559. The current structure is already calling for more upsides. The MACD indicator is entering the positive territory.

This image is no longer relevant

In the H1 chart, the pair did a pullback at the resistance level of 1.5469, after a long rally held from the 200 SMA, which acted as dynamic support. That is why we should wait for upward moves on an intraday basis, also this moving is currently pointing to the upside. The MACD indicator is entering the negative territory.

This image is no longer relevant

Daily chart's resistance levels: 1.5479 / 1.5559

Daily chart's support levels: 1.5329 / 1.5181

H1 chart's resistance levels: 1.5469 / 1.5494

H1 chart's support levels: 1.5440 / 1.5402

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.5469, take profit is at 1.5494, and stop loss is at 1.5444.

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