empty
 
 
03.02.2014 07:10 PM
GBP/USD intraday technical levels and trading recommendations for February 3, 2014.

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

GBP/USD had been trapped inside a wide-ranged price zone extending between 1.5900 and 1.6250 until November 27 when a bullish breakout took place.

Since then, the bulls have been defending 1.6250 as a prominent support. Another successful bullish retesting took place in the mid-December that pushed the pair again to the upside.

Based on this bullish breakout, the GBP/USD pair had a projection target around 1.6630 which acted as a prominent resistance for the pair.

As suggested, the bearish reversal was expressed at retesting of 1.6660 on January 24.

As depicted on the 4H chart, four-hour stabilization below the price zone of 1.6440-1.6490 was mandatory for further decline to take place. Quick decline took place towards 1.6310 shortly after.

The price zone of 1.6310-1.6330 represents a confluence of support for the GBP/USD pair. A valid buy entry can be taken here with stop loss as four-hour closure below 1.6275.

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