empty
 
 
12.05.2014 02:30 AM
Daily analysis of GBP/USD for May 12, 2014

Daily chart: This pair is finding support at the 1.6851 level. This bearish movement is part of a corrective movement in favor of the bullish trend, so expect this pair to make a bullish rebound at current levels. However, if the GBP/USD does a breakout at that support level, it is expected to fall to the level of 1.6766. The MACD indicator is in negative territory.

This image is no longer relevant

H4 chart: The GBP/USD is trying to form a bearish pattern below the resistance level of 1.6900 after the pair has found resistance above the 1.7000 level. If the pair manages to make a breakout at the support level of 1.6841, it's expected to fall to the level of 1.6822. The MACD indicator is in negative territory.

This image is no longer relevant

H1 chart: The GBP/USD stays below the 200 SMA and now this pair is finding support at the level of 1.6850. If GBP/USD manages to make a breakout at that level, it would be expected to fall to the level of 1.6800. However, one would expect that the GBP/USD will attempt to climb up the 200 SMA. MACD indicator is oversold.

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 1.6900, take profit is at 1.6950, and stop loss is at 1.6850.

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