Overview :
- According to the previous events, the price of GBP/USD pair is going to move between the levels of 1.6822 and 1.6730. Equally important, it should be noted that the level of 1.6730 is representing a strong support in H1 chart. Additionally, the 1.6822 level is going to form a double top. Hence, the range of the GBP/USD pair will be around 92 pips in the coming hours. Consequently, the market will indicate a bullish opportunity above 1.6730, because the level of 1.6730 is going to act as strong support on April 11, 2014. Therefore, it will be a good sign to buy above this level today with the first target of 1.6780 in order to try to break the minor resistance. Furthermore, if the trend manages to close above 1.6780, then the market will be continuing in uptrend towards the level of 1.6822 (the double top). Another thought, the strong resistance of the GBP/USD pair will set at 1.6822; thus it will be very useful to take profit at this level.
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 April 11, 2014 . Thanks for your support on Technical analysis of GBP/USD for April 11, 2014
No comments:
Post a Comment