empty
 
 
11.10.2012 07:05 PM
GBP/USD Buy above 1.5950 - For October 11, 2012 (Daily Strategy)

 

The British pound is trading above its psychological level of 1.60 the pair found strong support in the second support weekly, as we mentioned in our review on Monday. You can read the full analysis here http://instaforex.com/sp/forex_analysis/72616/.
Now the pair has a dynamic resistance at 1.6050. If the pair manages to overcome this level it would win quickly positions to 1.6140 (Bearish trend line).
At a fundamental level, the Bank of England is now satisfied with its monetary policy and the Federal Reserve is ready to expand its quantitative easing seemingly limitless sense of its currency. The pair should continue higher. In the medium term we expect it will rise to 1.65. We maintain our bullish outlook above 1.5950.

 

This image is no longer relevant

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

If you like my technical analysis, please vote for me, in the portal MT5.com, please login and then vote for me. Thanks.

InstaForex Analyst,
Analytical expert of InstaForex
© 2007-2025
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