empty
 
 
19.09.2014 05:36 PM
Intraday technical levels and trading recommendations on GBP/USD for September 19, 2014

This image is no longer relevant

After testing price levels around 1.7180 in July, the bears initiated the manifested downtrend which is maintained within the depicted bearish channel.

Despite the weekly closure at 1.6324 (achieved on Friday) , the pair opened with a bearish gap of about 150 pips. This enabled the bears to test 1.6058 shortly after ( on Tuesday ).

Significant bullish recovery was manifested around 1.6070. Bullish engulfing daily candlesticks were expressed during this week shooting towards 61.8% Fibonacci level located around 1.6400.

Price level of 1.6400 stands as a prominent daily resistance. This price zone corresponds to 61.8% Fibonacci level as well as the upper limit of the current movement channel.

The bearish scenario is enhanced by current shooting-star daily candlestick when the pair spoke up to 1.6515 earlier today.

This image is no longer relevant

The GBP/USD pair has been down-trending for almost one month. Moreover, evident bearish momentum keeps pushing lower without significant bullish correction.

As expected, bullish fixation above price level of 1.6150 ( Tuesday's highest level ) and 1.6275 (neckline of the 123 reversal pattern) allowed a bullish corrective move to take place towards 1.6350 and 1.6410 ( 61.8% Fibonacci Levels ).

This bullish movement was enhanced by the updates in the independence of Scotland voting, which showed the superiority of the votes that said "no" and therefore Scotland will remain in the United Kingdom.

Technically, a valid SELL entry is suggested at retesting of price levels around 1.6410. 4H fixation below 1.6330 is essential to pursue the current bearish movement.

InstaForex Analyst,
Especialista em análise na InstaForex
© 2007-2024
Ganhe com as variações das taxas das criptomoedas com a InstaForex.
Baixe o MetaTrader 4 e abra a sua primeira operação.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    PARTICIPE DO CONCURSO
  • Chancy Deposit
    Deposite US $ 3.000 em sua conta e receba $9000 mais!
    Em Maio nós sorteamos $9000 na campanha Chancy Deposit!
    Tenha a chance de ganhar, depositando $3,000 em sua conta de negociação. Após cumprir essa condição, você se torna um participante da campanha.
    PARTICIPE DO CONCURSO
  • Trade Wise, Win Device
    Abasteça a sua conta com pelo menos $500, inscreva-se no concurso e tenha a chance de ganhar dispositivos móveis.
    PARTICIPE DO CONCURSO
  • Bônus de 100%
    Sua oportunidade única de receber um bônus de 100% em seu depósito
    RECEBA O BÔNUS
  • Bônus de 55%
    Solicite um bônus de 55% em cada depósito
    RECEBA O BÔNUS
  • Bônus de 30%
    Receba um bônus de 30% toda vez que você fizer um depósito em sua conta
    RECEBA O BÔNUS

Recommended Stories

Não pode falar agora?
Faça sua pergunta no chat.
Widget callback