Daily chart: The GBP/USD has dropped below the support level of 1.6663, so the bullish bias is endangered. If the pair manages to form a higher low pattern at present levels, it would be expected to fall to the support level of 1.6540. On the other hand, if the pair manages to break the resistance level of 1.6663, it's expected to rise to the level of 1.6766. The MACD indicator is in negative territory.
H4 chart: GBP/USD is forming a bearish pattern above the bullish trend line near the 1.6640 level. If the pair manages to consolidate below that level, it would be expected to fall to the support level of 1.6592. On the other hand, if the pair manages to break the resistance level of 1.6644, it's expected to rise to the level of 1.6667. However, it is very likely that this pair will make a bullish rebound at 200 SMA. The MACD indicator is in negative territory.
H1 chart: This pair is moving into a low range near the support level of 1.6629. However, if this pair makes a bullish rebound at the current levels, it is expected to rise to the resistance level of 1.6700. If the pair manages to make a breakout at that level, it would be expected to rise to the level of 1.6750. The MACD indicator is in positive territory.
Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.6700, take profit is at 1.6750, and stop loss is at 1.6650.
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