empty
 
 
04.11.2019 02:41 PM
Technical analysis of GBP/USD for November 04, 2019

This image is no longer relevant

Overview:

Pivot: 1.2901

The trend of the GBP/USD pair faced strong resistances at the levels of 1.3012.

The strong resistance has been already formed at the level of 1.3012 and the pair is likely to try to approach it in order to test it again.

However, if the pair fails to pass through the level of 1.3012, the market will indicate a bearish opportunity below the new strong resistance level of 1.3012 (the level of 1.3012 coincides with double top).

Moreover, the RSI starts signaling a downward trend (saturation around 70), as the trend is still showing strength above the moving average (100) and (50). On the other hand, the price spot of 1.3012 remains a significant resistance zone.

Thus, the market is probably indicating a bearish opportunity below 1.3012 for that it will be good to sell at 1.3012 with the first target of 1.2901 in order to test thepivot point again. It will also call for a downtrend in order to continue towards 1.2788. The daily strong support is seen at 1.2788.

On the other hand, the stop loss should always be taken into account, for that it will be reasonable to set your stop loss at the level of 1.3084.

Summary
Urgency
Analytic
Mourad El Keddani
Start trade
Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO
  • Depósito al azar
    ¡Haga un depósito en su cuenta de $3,000 y obtenga $6000 más!
    ¡En Diciembre, sorteamos $6000 dentro de la campaña Depósito afortunado!
    Obtenga la oportunidad de ganar depositando $3,000 en una cuenta de operaciones. Tras haber cumplido esta condición, se convertirá en un participante de la campaña.
    UNIRSE AL CONCURSO
  • Opere de forma inteligente, gane un dispositivo
    Recargue su cuenta con al menos $500, regístrese en el concurso y tenga la oportunidad de ganar dispositivos móviles.
    UNIRSE AL CONCURSO
  • 30% de bonificación
    Reciba un bono del 30% cada vez que recargue su cuenta
    OBTENER BONO

Recommended Stories

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback