empty
 
 
17.09.2015 12:42 PM
Technical analysis of GBP/USD for September 17, 2015
This image is no longer relevant

Overview:

  • The GBP/USD pair is in the short term (September 17, 2015).
  • The price of the GBP/USD pair is going to turn to bullish sentiment from the level of 1.5475 again. The level of 1.5475 is representing a double bottom today. Accordingly, it will be a good decision to buy above the double bottom at 1.5475 with the first target of 1.5544 to test the weekly resistance 2 in this area. Then, if the price breaks the weekly resistance 2, it will call for an uptrend market in order to continue its bullish movement towards 1.5600 with a view to form a new double top on the H1 chart. Equally important, the resistance would be at the 1.5600 level. Additionally, the trading range today will be between the levels of .1.5475 and 1.5600. However, the stop loss should be placed below the double bottom at the price of 1.5440, so the stop loss should be set in 35 pips since the risk of 105 pips could make profit of 60 pips (take profit = 3 * stop loss).

Intraday technical levels:

  • Projected high: 1.5600
  • Breakout (buy stop): 1.5544
  • Current pivot: 1.5509
  • Strong support (buy limit): 1.5475
  • Projected low: 1.5443
Summary
Urgency
Analytic
Mourad El Keddani
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 $6000 more!
    In December we raffle $6000 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