empty
 
 
04.03.2014 01:16 PM
Intraday technical levels and trading recommendations for GBP/USD for March 4, 2014

This image is no longer relevant

The pair remains in the bearish impulse initiated off its peak price around 1.6820 as long as this highest price doesn't get broken through.

The breakdown of 1.6600 is essential to confirm reversal and trigger a stronger pullback, which will pause the short-term bullish momentum and open the way towards 1.6536 (50% Fibonacci Level of the swing between 1.6250/1.6821) and psychological Demand of 1.6500 as well.

The price level of 1.6600 seems to be a considerable support for the pair so far.

The bears failed to fixate below it on the last bearish attempt that took place two weeks ago. Instead, bullish pressure was applied to push again towards 1.6750 and 1.6800.

A double-top is probably being established around 1.6770 which needs breakdown of the neck-line around 1.6575. Projection target is located roughly at 1.6400.

This image is no longer relevant

The bulls were concentrated around 1.6600 considering it as an ideal reversal point.

Stabilization of 1.6600 protected the pair from further decline. This led to a sideway consolidative phase before the ongoing bullish breakout took place last week.

As expected, breakthrough above 1.6666 opened the way towards 1.6740 corresponding to 61.8% Fibonacci of the recent bearish swing depicted on the 4H chart.

Breakthrough above 1.6740 (61.8% Fibonacci) is a must to bring bulls back to push towards 1.6820 again.

On the other hand, stabilization below which traps the pair between it and the backside of the broken channel around 1.6650 (Recent Demand Level) which may lead to a sideway consolidative phase until new fundamental data gets into the market.

Jana pendapatan melalui perubahan kadar mata wang kripto dengan InstaForex.
Muat turun MetaTrader 4 dan buka dagangan pertama anda.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    SERTAI PERADUAN
  • Chancy Deposit
    Deposit akaun anda sebanyak $3,000 dan dapatkan $1000 lebih lagi!
    Dalam Jun kami membuat cabutan bertuah $1000 dalam Kempen Chancy Deposit!
    Dapatkan peluang untuk menang dengan membuat deposit $ 3000 ke dalam akaun dagangan. Setelah memenuhi syarat ini, anda menjadi peserta kempen.
    SERTAI PERADUAN
  • Trade Wise, Win Device
    Daftar untuk peraduan dan tambah dana akaun anda dengan sekurang-kurangnya AS$ 500 untuk layak memenangi peranti mudah alih.
    SERTAI PERADUAN
  • Bonus 100%
    Peluang istimewa anda untuk menerima bonus 100% pada deposit anda
    DAPATKAN BONUS
  • Bonus 55%
    Dapatkan bonus 55% pada setiap deposit anda
    DAPATKAN BONUS
  • Bonus 30%
    Dapatkan bonus 30% setiap kali anda membuat penambahan dana akaun anda
    DAPATKAN BONUS

Artikel yang dicadangkan

Tidak boleh bertanya sekarang?
Tanya soalan anda di Ruangan bersembang.
Panggilan semula Widget