empty
 
 
27.08.2014 02:14 AM
Daily analysis of GBP/USD for August 27, 2014

Daily chart: GBPUSD is trying to make a breakout at the support level of 1.6540, so this pair continues to form a higher low pattern above this level. It has formed a fractal support level, so it is likely that GBP/USD will rebound at current levels and will try to climb to the 200-day moving average. However, GBP/USD remains strong in the bearish trend. The MACD indicator is entering neutral territory.

This image is no longer relevant

H4 chart: GBP/USD is trying to make a breakout at the support level of 1.6553, because it is very likely that it will to the level of 1.6464, which would be a strengthening of the bearish trend. The GBP/USD pair has been below the 200-day moving average already. However, it is recommended to place sell orders with caution since GBP/USD is overbought. The MACD indicator is entering neutral territory.

This image is no longer relevant

H1 chart: GBP/USD is conducting a breakout at the 1.6544 level, so it is very likely that GBP/USD will fall to the support level of 1.6507 in the coming hours. If GBP/USD manages to make a breakout at that level, it would be expected to fall to the support level of 1.6464. The GBP/USD has found strong resistance at the 1.6578 level. The MACD indicator remains into negative territory

This image is no longer relevant

Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the GBP/USD pair breaks a bearish candlestick; the support level is at 1.6544, take profit is at 1.6507, and stop loss is at 1.6581.

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