empty
 
 
07.05.2014 08:53 AM
Daily analysis of GBP/USD for May 07, 2014

Daily chart: This pair is approaching the resistance level of 1.7000, so this week, it is likely that the GBP/USD starts to make corrective movements for a breakout at that level. If successful, it is expected to rise to the resistance level of 1.7169 in the medium term. For now, caution is recommended when placing sell orders. The MACD indicator is in positive territory.

This image is no longer relevant

H4 chart: The GBP/USD has consolidated above the 1.6900 level and the closest to the current resistance level is at the bullish trend line. If the pair manages to consolidate above the 1.7085 level, it's expected to rise to the level of 1.7175. Furthermore, the GBP/USD could perform a bearish rebound to fall to the support level of 1.6900. The MACD indicator is in positive territory.

This image is no longer relevant

H1 chart: This pair is forming a bullish pattern above the support level of 1.6950 and within the vicinity of the point of control. If GBP/USD manages to make a breakout on the resistance level of 1.7000, it's expected to rise to the level of 1.7050. Moreover, if this pair is able to consolidate support below the level of 1.6950, it is expected to fall to the level of 1.6900. The MACD indicator is in negative territory.

This image is no longer relevant

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.7000, take profit is at 1.7050, and stop loss is at 1.6950.

Summary
Urgency
Analytic
InstaForex Analyst
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