empty
 
 
30.11.2012 04:09 PM
GBP/USD Intraday Technical Analysis and Trading Recommendations for November 30, 2012

This image is no longer relevant
This image is no longer relevant

 

The GBP/USD pair has been fluctuating heavily within the past few weeks after the broken DAILY bullish channel was retested around the price zone of 1.6160 - 1.6180, failing to maintain a directional trend.
Then the narrow consolidation range 1.6025 - 1.5925 was broken to the downside with a potential target near the price level of 1.5780 which has not been hit so far.
On the 4H chart the GBP/USD pair is trapped within narrow range between 50% and 61.8% Fibonacci levels, breakout in either direction should be watched. However, the obvious bullish price action expressed yesterday towards 1.5960 favors the bullish short-term view at least towards 1.6070.
On the mid-term aspect, consolidation is again above 1.5970. Getting back inside the previous consolidation range indicates high probability that the upper limit around 1.6160 may be visited soon unless bears around price level 1.6070 succeed to defend this price zone.
Breakdown below the Intraday Support Price Zone 1.5900 - 1.5930 and breakdown of Intraday Support around 1.5850 are necessary to maintain the long-term bearish movement.

 

Support:  1.5960, 1.5920, 1.5830,1.5800, and 1.5760.
Resistance:  1.6070, 1.6160, and 1.6200

Summary
Urgency
Analytic
Mohamed Samy
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