empty
 
 
11.07.2014 03:00 AM
Daily analysis of GBP/USD for July 11, 2014

Daily chart: The GBP/USD pair made a pullback to the resistance level of 1.7169. However, the pair forming a bullish pattern continues below this level, so that the GBP/USD pair remains strong in the bullish trend. Currently, the pair is likely to close the week moving sideways. The MACD indicator is in the negative territory.

This image is no longer relevant

H4 chart: This pair remains below the bullish trend line at 1.7200, so the GBP/USD pair is trying to stay above the 200-day moving average, which is at the support level of 1.6995. If GBP/USD manages to make a breakout at the level of 1.7225, it is expected to rise to the level of 1.7260. The MACD indicator is in the negative territory.

This image is no longer relevant

H1 chart: The GBP/USD found resistance at the 1.7150 level. Now, this pair is making a rebound on the 200-day moving average, which is close to the point of control at the level of 1.7110. If GBP/USD manages to make a breakout at the support level of 1.7100, it is expected to fall to the level of 1.7050. The MACD indicator is entering the neutral territory.

This image is no longer relevant

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 1.7150, take profit is at 1.7200, and stop loss is at 1.7100.

Summary
Urgency
Analytic
InstaForex Analyst
Start trade
Gagnez sur les variations du cours des cryptomonnaies avec InstaForex.
Téléchargez MetaTrader 4 et ouvrez votre première transaction.
  • 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