The British pound is sliding slowly downward without a sustained rebound. Now it is a few pips below the 200 day moving average periods, which gives a bearish tone for the next few weeks. When you see these scenarios you should be very cautious, as the pair may bounce without an apparent reason, and you can keep orders against it.
Therefore, we recommend buying above the 200 EMA (blue) above 1.5850, because we are waiting for a rebound. If you want to sell, you can do it at the weekly resistance levels.
At a fundamental level next week there will be several important events both in the United States and the European Union, which may influence the currencies.
If you need personal consultation, contact me via e-mail: gerardo.porras@analytics.instaforex.com
If you like my technical analysis, please vote for me, in the portal MT5.com, please login and then vote for me. Thanks.
The material has been provided by Instaforex Company - instaforex.com
For detail explanation and best discovery on market trends you may visit via GBP/USD Rebound - For November 15, 2012 (Daily Strategy) . Thanks for your support on GBP/USD Rebound - For November 15, 2012 (Daily Strategy)
No comments:
Post a Comment