Technical analysis of GBP/USD for January 22, 2014 Trend News

Trading recommendations :

• According to previous events, the price of the GBP/USD pair has still been trapped between 100% of Fibonacci retracement and 61.8% in H1 chart.


• Long Buying :


• Buy above 1.6387 with the first target of 1.6466, it might resume to 1.6515.


• Short Selling :


• Outlook -1-: Swing trade at 1.6520 in order to sell with a traget of 1.6460.


• Outlook -2-: Below 1.6455 look for further downside with 1.6412 (in order to test the weekly pivot point) and 1.6383 targets.

Intraday technical levels :

Date: 22/01/2014

Pair: GBP/USD

• Projected high: 1.6656


• Breakout (buy stop): 1.6601


• Strong resistance (sell limit): 1.6571


• Current pivot: 1.6442


• Strong support (buy limit): 1.6313


• Breakout (sell stop): 1.6288


• Projected low: 1.6238

The material has been provided by InstaForex Company - www.instaforex.com



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