empty
 
 
26.09.2012 01:07 PM
GBP/USD Intraday Technical Analysis and Trading Recommendations for September 26, 2012

This image is no longer relevant

After having few indecisive movements last week, the pair reacted strongly towards the price level of 1.6160 pushing the pair to test 1.6300 – 1.6350 zone.

On Friday, the GBP/USD pair almost reached the price level of 1.6300 when the market reacted strongly bearish which was manifested in the daily bearish Hammer candlestick which strongly suggests an upcoming bearish retracement towards retesting of the broken long-term trend line around 1.6150-1.6100.

The GBP/USD pair has been trapped within consolidation range 1.6160-1.6300 which is being broken down today after showing a possible bearish Head & Shoulders reversal pattern on the 4H chart which enables 1.6060 if confirmed.

Support: 1.6230, 1.6200, 1.6180, 1.6150, 1.6125 and 1.6075.

Resistance: 1.6250, 1.6285, 1.6300, 1.6350 and 1.6390.

Intraday support is seen around 1.6160. However, an obvious break below that level could lead the price to neutral zone in nearest term testing 1.6130-1.6050, while a longer-term support is seen around price level of 1.5920 (50% Fibonacci Level).

The long-term view remains bullish as long as we have daily closure above the broken long-term trend line depicted on the chart .

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 $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