Trading recommendations :
- Pair: GBP/USD
- Date: 28/1/2014
- According to the previous events, the price of the GBP/USD pair has still been moving between 1.6640 and 1.6515.
Long buying :
- Buy above 1.65 in the short term with the first target of 1.6566, it might resume to 1.6634 (the weekly resistance 1).
Short selling :
- Outlook 1: Swing trade at 1.6666 in order to sell with a traget of 1.6520 in order to test the weekly pivot point at the level of 1.6514.
- Outlook 2: The area below 1.6500 looks for further downside with 1.6463 and 1.6395 as targets.
Notes :
- It should be noted that the market will turn bearish from the level of 1.6666.
- Volatility:145.42; therefore, the market indicates the higher volatility.
The material has been provided by InstaForex Company - www.instaforex.com
For detail explanation and best discovery on market trends you may visit via Technical analysis of GBP/USD for January 28, 2014 . Thanks for your support on Technical analysis of GBP/USD for January 28, 2014
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