empty
 
 
16.08.2012 05:41 PM
GBP/USD Around EMA 200 for August 16, 2012 (Daily Strategy)

 

The pound is trading above the moving average 200 (blue), because, as we had mentioned in previous articles, the pair was trying to fix above this level but failed to do so. It is already the sixth time the currency is trying to hold above this level. Only a close above 1.5744 will give us the signal that the pair is ready to reach 1.5754, which is weekly resistance. We, therefore, recommend buying only if the pair closes today above 1.5744.
Our other strategy is bearish, we recommend selling below 1.5732 resistance weekly, with targets at 1.5509. We close this bearish position only if the pair closes the quote of today above 1.5744.

 

This image is no longer relevant

If you need a personal consultation, contact me via e-mail: [email protected]

If you like my Technical analysis, please vote for me, but first you must register at the portal MT5 for a vote to be valid. Thanks.

InstaForex Analyst,
Analytical expert of InstaForex
© 2007-2026
Summary
Urgency
Analytic
InstaForex Analyst
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 $10000 more!
    In January we raffle $10000 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