empty
 
 
05.09.2012 10:36 AM
GBP/USD Intraday Technical Analysis

This image is no longer relevant
 

The spot rate tested  the intermediate resistance of its medium term bullish channel at 1.5920 and declined. It approaches now the lower limit of its channel at 1.5830 suggesting a rebound. However, a break of these levels will free a large potential and initiate a bearish channel.

Technical indicators do not provide clear signals but until the support is not broken, the assumption of a rebound is most likely. Bollinger bands have greatly tightened in recent days showing a decline in volatility and the imminence of a violent movement.

As the spot rate tests the lower limit of its channel, we recommend 2 scenarios: the first one is the hypothesis of a rebound where we suggest a buy at the level of 1.5830 with the 1st objective at 1.5890 and then at 1.5910. A breakthrough 1.5810 will invalidate this scenario. The second scenario is a break of its support where we advise a “sell stop” which means selling the spot rate as soon as it is broken through its support of 1.5830 with the 1st objective at 1.5770 and then at 1.5750. A breakthrough 1.5850 will invalidate this scenario.

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 $10000 más!
    ¡En Enero, sorteamos $10000 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