empty
 
 
24.08.2012 03:19 PM
GBP/USD Intraday Technical Analysis and Trading Recommendations for August 24, 2012

This image is no longer relevant

 

The GBP/USD pair demonstrated a strong bullish movement which was expected considering the movement channel expressed this week within which the pair was consolidating.
The GBP/USD pair has resumed its bullish movement recording a higher high this week at 1.5912 after breaking through 1.5750 reaching the upper limit of the depicted channel without expected bearish retracement.
The pair has an important intraday Resistance level located around 1.5910 which was tested yesterday corresponding to the upper limit of the movement channel which acted as a resistance of the bullish movement in the short term.
The lower limit of the movement channel as well as the significant Support level are located around the price level of 1.5750 where price action should be watched for a possible valid low risk BUY entry with SL located below 1.5700.

Summary
Urgency
Analytic
Mohamed Samy
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 $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