08/18/15 ~ Best and Easy Analyst News

Tuesday 18 August 2015

Technical analysis of USD/JPY for August 18, 2015 Market Analysis Review

USD/JPY is expected to trade in a lower range. The US dollar remains firm with the USD index currently trading at 96.856 as traders shrugged off a weak reading on the manufacturing sector (Empire State Manufacturing Index fell to -14.92 in August, the lowest level since April 2009, from +3.86 in July). Besides, US stocks edged up overnight amid thinner-than-usual trading activity. The Dow Jones Industrial Average gained 0.4% to 17545.18, S&P 500 rose 0.5% to 2102.44, and the Nasdaq Composite was up 0.9% to 5091.70. The 10-year Treasury yield fell to 2.150% as crude oil dropped 1.5% to a fresh six-year low of $41.87 a barrel and gold was down 0.5% % to $1118.60 per ounce. Regarding USD/JPY, the pair remains range-bounded between the key resistance at 124.60 and the first downside target at 124.00. The pair has failed several times to breach the key resistance at 124.60 since August 13. As long as this level is not surpassed, the risk of breaking below 124.00 stays high. The second downside target is set at 123.75 (around the low of August 12).

Trading recommendations:

The pair is trading below its pivot point. It is likely to trade in a lower range as long as it remains below the pivot point. Short positions are recommended with the first target at 124. A break of that target will move the pair further downwards to 123.75. The pivot point stands at 124.60. In case the price moves in the opposite direction and bounces back from the support level, it will move above its pivot point. It is likely to move further to the upside. According to that scenario, long positions are recommended with the first target at 125 and the second target at 125.25.

Resistance levels: 125 125.25 125.60

Support levels: 124 123.75 123.50

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Technical analysis of USD/CHF for August 18, 2015 Market Analysis Review

USD/CHF is expected to trade with bearish bias. The pair seems to be stuck underneath the key resistance at 0.9800. Meanwhile, the intraday RSI indicator lacks upward momentum, and favors a new drop. As long as 0.9800 is not surpassed, the risk of the break below 0.9720 remains high. Our next down target is set at 0.9660 (the low of August 12).

Trading recommendations:

The pair is trading below its pivot point. It is likely to trade in a lower range as long as it remains below the pivot point. Short positions are recommended with the first target at 0.9715. A break of that target will move the pair further downwards to 0.9660. The pivot point stands at 0.98. In case the price moves in the opposite direction and bounces back from the support level, it will move above its pivot point. It is likely to move further to the upside. According to that scenario, long positions are recommended with the first target at 0.9860 and the second target at 0.9940.

Resistance levels: 0.9860 0.9940 0.9995

Support levels: 0.9715 0.9660 0.9635

Technical analysis of GBP/JPY for August 18, 2015 Market Analysis Review

GBP/JPY is expected to trade with bullish bias. The pair is rebounding and has posted higher tops and lows, confirming an intraday trend reversal. The previous resistance at 194.10 should now play a key resistance role. And the descending 50-period intraday MA also maintains a bullish bias. The first target to the upside is therefore set at the horizontal resistance and overlap at 195.50. A break above this level would open the way to further strength towards 196.05 in extension.

Trading recommendations:

The pair is trading above its pivot point. It is likely to trade in a wider range as long as it remains above its pivot point. As long as the price holds above its pivot point, long positions are recommended with the first target at 195.50 and the second target at 196.05. In the alternative scenario, short positions are recommended with the first target at 193.70 if the price moves below its pivot points. A break of this target is likely to push the pair further downwards, and one may expect the second target at 193. The pivot point is at 194.10.

Resistance levels: 195.05 196.05 196.75

Support levels: 193.70 193 192.15

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Daily analysis of SILVER for August 18, 2015 Market Analysis Review

Overview

According to the shown H4 chart, Silver price settles above the EMA50 waiting to resume the bullish trend on the intraday basis, which targets the 16.05 level mainly in the upcoming sessions. In general, we continue suggesting the bullish trend on the intraday basis as long as the price is above 15.00 supported by the EMA50. Breaching the 16.05 level will extend the bullish wave towards 17.10 as the next main target.

Holding above 15.00 is a key condition to achieve the suggested rise. Breaking the EMA50 might complete a negative formation that will put the price under negative pressure to stop today's suggested positive scenario.

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Daily analysis of GBP/JPY for August 18, 2015 Market Analysis Review

Overview

According to the attached H4 chart, theup trend from 116.83 is still in progress and would target 61.8% retracement of 251.09 to 116.83 at 199.80, which is close to the 200 psychological level. A medium-term momentum is not too convincing with bearish divergence condition in the weekly MACD. We'd be cautious in the medium term topping around 200 and bring a deep correction. Meanwhile, a break of 174.86 will suggest that the trend has reversed earlier than we expect.

Intraday bias in GBP/JPY remains neutral for the moment. Rebound from 184.95 might extend. But we'd expect strong resistance from 195.86 to limit upside and bring a reversal. At this point, we're holding on to the view that consolidation pattern from 195.86 is not completed yet. A break of 190.99 will start the third leg of the consolidation and will target 184.95 support.

Daily Pivots: (S1) 193.36; (P) 194.26; (R1) 194.75;

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Technical analysis of NZD/USD for August 18, 2015 Market Analysis Review

NZD/USD is expected to trade in a higher range. The pair has recently formed a strong support base around 0.6540 and is now posting a technical rebound. Both the 20- and 50-period MAs are also turning up and providing support. Moreover, the intraday RSI is bullish above its neutrality area at 50. In this case, further advance is more likely to occur towards 0.6605 as long as 0.6540 holds on the downside.

Trading recommendations:

The pair is trading above its pivot point. It is likely to trade in a wider range as long as it remains above its pivot point. As long as the price holds above its pivot point, long positions are recommended with the first target at 0.6605 and the second target at 0.6630. In the alternative scenario, short positions are recommended with the first target at 0.6510 if the price moves below its pivot points. A break of this target is likely to push the pair further downwards, and one may expect the second target at 0.6480. The pivot point is at 0.6540.

Resistance levels: 0.6605 0.6630 0.6675

Support levels: 0.6510 0.6480 0.6415

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EUR/NZD analysis for August 18, 2015 Market Analysis Review

Overview:

Recently, EUR/NZD has been moving downwards. As we expected, the price tested the level of 1.6752 in a high volume. In the daily time frame, we can observe a supply bar in a volume below the average. According to the H1 chart, we have ultra-high volume demand in the background and strong supply later on, which caused the price to start with downward movement. As long as this potential absorption is active, there is a chance that price can drop further. We may expect continuation of downward movement if the price breaks strong support at the level of 1.6800.

Fibonacci Pivot Points :

Resistance levels:

R1: 1.6865

R2: 1.6880

R3: 1.6900

Support levels:

S1: 1.6833

S2: 1.6800

S3: 1.6755

Trading recommendations: Watch only for selling opportunities if the price breaks the level of 1.6800 in a high volume.

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For detail explanation and best discovery on daily market trends and news you may visit via EUR/NZD analysis for August 18, 2015 . Thanks for your support.

Technical analysis of NZD/USD for August 18, 2015 Market Analysis Review

Trading recommendations:

According to the previous events, the NZD/USD pair has been still moving between 0.6641 and 0.6517. Besides, the resistance has already been set at the level of 0.6641. Therefore, it will be a good sign to sell below 0.6641 with the first target of 0.6517. If the trend breaks the weekly pivot point, it will call for a downtrend in order to continue its bearish movement towards 0.6467 with a view to double bottom. On the other hand, the stop loss should never exceed your maximum exposure amounts, so the stop loss should be placed above the resistance at the price of 0.6694. It should be noted that the key level is set at the levels of 0.6641 and 0.6467.

Notes:

It should be noted that the key level is set at the levels of 0.6641 and 0.6467.
Moreover, the 0.6617 level is coinciding with the weekly pivot point on August 18, 2015.
We expect a range about 174 pips (0.6641 - 0.6467) in coming days.
Equally important, the resistance has been already formed at the 0.6641 level.
As it is known, history will probably repeat itself at this level again.

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Technical analysis of USD/CHF for August 18, 2015 Market Analysis Review

Overview:

The USD/CHF has broken major resistance at the price of 0.9615 which represents the weekly pivot point. Besides, the minor resistance is calculated at 0.9902 and it is now approaching it. Therefore, it will probably start downside movement at this area and recover again. So, the market will indicate a bearish opportunity at the level of 0.9902. It will be a good sign to sell at this spot with the first target of 0.9780 and continue towards 0.9615 in order to form the double bottom (the lowest price of last week). On the other hand, if a break is at the level of 0.9915, it will be a good location for placing stop loss at 0.9930.

Trading recommendations:

According to the previous events, the price has been still trapped between 0.9902 and 0.9630.
Buy above the weekly pivot point 0.9615 with the first target of 0.9788, it might resume to 0.9902.
Below the price of 0.9902, look for further downside with the 0.9770 and 0.9615 targets.

Observations:

We use historical rates to determine future prices because history will probably repeat itself again.

Gold analysis for August 18 , 2015 Market Analysis Review

Overview:

Since our last analysis, gold has been trading sideways around the price of $1,119.00. According to the daily time frame, we can observe a neutral bar (doji) in a volume below the average. According to the 30M time frame, we can observe a volume spike (selling climax) with a wide range bar at the price of $1,117.00, which is a sign that selling gold looks risky. I placed Fibonacci retracement to find potential resistance levels and got Fibonacci retracement 38.2% at the price of $1,127.00 (successfully held), Fibonacci retracement 50% at the price of $1,141.00, and the Fibonacci retracement 61.8% at the price of $1,157.00. According to Wyckoff analysis, we have strong accumulation and bottoming on gold, so watch only for buying opportunities on the dips (after bearish corrections). Anyway, to confirm further bullish movement, the price needs to break the level of $1,122.70.

Daily Fibonacci pivot points:

Resistance levels

R1: 1,121.38

R2: 1,123.35

R3: 1,127.80

Support levels:

S1: 1,114.30

S2: 1,112.00

S3: 1,108.00

Trading recommendations: Be careful when selling gold at this stage. Watch for buying opportunites. Area around the price of $1,114.00 looks like very strong support and a good buy zone.

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Technical analysis of EUR/CAD for August 18, 2015 Market Analysis Review

EUR/CAD has been moving upwards for a very extended period of time in the longer time frame. In the smaller, H1 scale, the picture is very much alike: a very strong bullish trend with no signs of weakness.

The pair formed a strong resistance near 1.4450, that on the 11.08 was broken. The very same level has acted as support that was rejected, once again confirming the validity of the uptrend. The price remains above the 200 Moving average and this week rejected the ascending channel as well as an uptrend trendline.

As the trend remains so bullish, consider buying EUR/CAD today while it trades between the current level - the psychological support (1.4500) and S1 (1.4450). The R1 resistance - 161.8% Fibonacci retracement level (applied to the 31.07 high and 07.08 low) was broken and it would be reasonable to target next Fibs 261.8%, marked R2 (1.4752). To stay on the safe side, the stop loss must be well below S1; however, long trades with tight stop loss might also play out well.

Support: 1.4448

Resistance: 1.4565, 1.4752

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Global macro overview for 18/08/2015 Market Analysis Review

Global macro overview for 18/08/2015:

The most important economic news from the US for today is the building permits number for the month of July. The number is expected to be at the level o f 1,230K; (-8.0% m/m) vs. 1,343K; (7.4% m/m) month ago. The decline in permits is evident, but any number better than expected will make the dollar surge. Please remember that the FOMC meting minutes are scheduled for the release tomorrow and the market might start slowly discounting the possible September rate hike.

The technical picture of EUR/USD is not helping the euro bulls much and any good news from the US later today might cause another wave down for this pair towards the support at the level of 1.1020.

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Global macro overview for 18/08/2015 Market Analysis Review

Global macro overview for 18/08/2015:

Another set of data from UK is scheduled for release today at 8:30 GMT including consumer price index, core CPI, retail price index, and PPI input/output. All of them can update the inflation view for the rest of the year as at present the UK inflation is near zero (short deflation in April 2015). The core inflation is still well under 2% and most of this can be explained by a sharp fall in energy prices (overall positive for the economy). The consumer price index is expected to be lower than the previous reading: -0.3% m/m; 0.0% y/y vs. 0.0% m/m; 0.0% y/y. Moreover, the core CPI is expected at the level of 0.8% y/y, which is in line with the flash estimate. It means the prices mustn't rise in the month of July, nevertheless the recent sharp decline in commodity prices is likely to add fuel to the fire. So inflation expectations in the months ahead might still remain under downward pressure.

The technical picture of GBP/USD shows another clear rejection of the important demand breakthrough zone and decline towards the golden trend line. Any breakout above the level of 1.5689 is bullish, but after testing the zone eight times last month, the GBP/USD pair is likely to drop towards the lower support levels.

USDX technical analysis for August 18, 2015 Market Analysis Review

The Dollar index has broken the short-term resistance level of the 38% Fibonacci retracement and is trying to push higher towards the Ichimoku cloud on the 4-hour chart. However, the medium-term trend is bearish with a possible pullback towards the triangle support at 95.

The Dollar index has broken above the kijun-sen resistance (yellow line) and is heading towards the Ichimoku cloud. I expect to see price get rejected at that level and give new lows. I believe the downside is not over for the Dollar. Support is at 96.10 and resistance at 97.10.

Red line - resistance

Green line - support

The Dollar index remains inside the triangle pattern and is testing the 1st support area as shown by the blue rectangle areas. The Dollar index should push towards the lower triangle boundary towards 95. A break above the triangle will imply the start of a new uptrend towards new highs.

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Gold technical analysis for August 18, 2015 Market Analysis Review

Gold price remains in a short-term bullish trend despite the longer-term bearish trend. Price is a making an upward bounce that could eventually push the metal towards $1,140-50 level. The $1,111 level is a key for the short-term trend while the $1,090 is critical support for the bullish trend.

Blue line - trend line support

Blue area - resistance

Gold price is above the Ichimoku cloud. Price is making higher highs and higher lows after the breakout above the Ichimoku cloud. Support area is at $1,100. If $1,111 low is broken, we should see a pullback towards the cloud support. If resistance at $1,127 is broken, we should see a move higher towards $1,140.

Blue area- resistance

The weekly chart remains bearish in the longer term, but the signs from last week for a possible bounce are now materializing. Bounce target remains at the $1,140-50 area where the tenkan- and kijun-sen indicators are found. Price is well below the Ichimoku cloud confirming a long-term bearish trend.

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Technical analysis of USD/CAD for August 18, 2015 Market Analysis Review

General overview for 18/08/2015 09:30 CET

The 1-1 geometry between the waves a and c purple has been missed by 3 pips, nevertheless the corrective cycle in wave a green (alt:X brown) has been completed. Currently the corrective cycle in wave b green (alt:Y brown) continues. The key level for today is the intraday resistance at the level of 1.3156. Any breakout higher would be viewed as temporary bullish.

Support/Resistance:

1.3156 - Intraday Resistance

1.3079 - Weekly Pivot

1.3058 - Intraday Support

1.2975 - WS1

Trading recommendations:

Daytraders should consider opening sell orders from the level of 1.3156 with tight SL (10-15 pips) and TP at the level of 1.3100.

Technical analysis of EUR/JPY for August 18, 2015 Market Analysis Review

General overview for 18/08/2015 09:20 CET

As anticipated yesterday, the market reversed after testing the golden trend line resistance and currently is heading lower towards the technical support at the level of 137.34. Please notice that this corrective cycle might evolve into a more complex and time-consuming cycle, especially if the price falls lower into the neutral/range zone.

Support/Resistance:

138.82 - Intraday Resistance

137.78 - Weekly Pivot

137.56 - Intraday Support

136.34 - Technical Support

Trading recommendations:

Yesterday's shorts should be closed now as the TP level has been hit. Currently traders should refrain from trading and wait for clear pattern to emerge soon.

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Technical analysis of Silver for August 18, 2015 Market Analysis Review

Technical outlook and chart setups:

Silver is seen to be trading around $15.25/30 levels, just ahead of its 50 DMA as seen here on the 4H chart view. Silver bulls would be wanting to target $15.90 levels to confirm that a meaningful bottom has been formed around $14.40/50 levels recently. The metal should be supported around $14.90/15.00 levels for now. It is still recommended to remain flat for now and await for a reaction at lower levels to commit further. Immediate support is seen at $14.90/15.00 levels, followed by $14.40/50 and lower while resistance is seen at $15.90 levels, followed by $16.40 and higher respectively.

Trading recommendations:

Remain flat for now.

Good luck!

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For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of Silver for August 18, 2015 . Thanks for your support.

Technical analysis of Gold for August 18, 2015 Market Analysis Review

Technical outlook and chart setups:

Gold is unchanged from what was discussed yesterday and is seen to be trading around $1,118.00 levels at the moment. Please note that the 50 DMA is passing through $1,110.00 levels and the yellow metal could bounce from there, pushing it further into the $1,130.00/35.00 resistance zone. It is recommended to remain flat for now, and look to sell higher. Immediate support is seen at $1,110.00 levels, followed by $1,100.00, $1,090.00 and lower while resistance is seen at $1,130.00/35.00 levels, followed by $1,175.00 levels and higher respectively.

Trading recommendations:

Remain flat for now. Look to sell higher.

Good luck!

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For detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of Gold for August 18, 2015 . Thanks for your support.

Technical analysis of EUR/JPY for August 18, 2015 Market Analysis Review

Technical outlook and chart setups:

The EUR/JPY pair is correcting lower and is seen to be testing its 50 DMA around 137.50 levels for now. Please note that the cone consolidation resistance turned support is around 137.00 levels and the pair could bounce back higher if prices manage to reach there. Extension levels are seen at 139.40 and 140.50 levels respectively. It is recommended to initiate long positions around 137.00 levels with risk below 136.00 levels for now. Immediate support is seen at 137.00 levels, followed by 136.50/60, 135.50, 134.00 and lower while resistance is seen at 140.50 and higher respectively.

Trading recommendations:

Remain flat for now, look to enter long around 137.00 levels.

Good luck!

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Technical analysis of GBP/CHF for August 18, 2015 Market Analysis Review

Technical outlook and chart setups:

The GBP/CHF pair is looking to form a rising channel after breaking below the immediate line of support. It has found interim resistance at 1.5350 levels for now. A break below the channel support is required to confirm further drop towards 1.4950 levels at least. On the flip side, a push above 1.5350 levels from here would indicate that a new high is in sight soon. It is recommended to remain short since yesterday with risk above 1.5400 levels. Immediate support is seen at 1.5150 levels (interim), followed by 1.5050 and lower, while resistance is seen at 1.5350 levels (interim), followed by 1.5410/30 and higher respectively.

Trading recommendations:

Remain short with stop at 1.5450.

Good luck!

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Elliott wave analysis of EUR/NZD for August 18 - 2015 Market Analysis Review

Technical summary:

The decline from 1.7103 has become too deep to be part of wave B. It's more likely that wave C is already developing form 1.7103 for a decline towards 1.6327 and possibly even lower to 1.6035 before the next impulsive rally higher should be expected.

We have been fighting to figure out what the correction from the top of wave (v) 1.7054 would look like. The break back above 1.7054 told us that an expanded flat correction was unfolding, but wave B fell short of its ideal target at 1.7198. It has just been proved that mess with corrections is not the best idea.

Trading recommendation:

We missed our short entry at 1.7185 and will stay neutral for now.

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Elliott wave analysis of EUR/JPY for August 18 - 2015 Market Analysis Review

Technical summary:

The inverse S/H/S neckline near 137.30 should provide support for a new rally above minor resistance at 138.40, confirming the next impulsive rally higher to at least 139.31 and likely even higher to 140.36 to end red wave v and wave iii.

Only a clear break below the neckline will frustrate the overall bullish picture, while a break below support at 136.49 will invalidate the bullish count.

Trading recommendation:

We are still looking to buy EUR at 137.45 with stop placed at 136.45.

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Technical analysis of EUR/USD for August 18, 2015 Market Analysis Review

!_EURUSD.jpg

When the European market opens, no economic news from the eurozone is due today in the economic calendar. However, the US will release some economic reports such as the Housing Starts, Building Permits, and TIC Long-Term Purchases. So amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY TECHNICAL LEVELS:

Breakout BUY Level: 1.1128.

Strong Resistance:1.1122.

Original Resistance: 1.1111.

Inner Sell Area: 1.1100.

Target Inner Area: 1.1074.

Inner Buy Area: 1.1048.

Original Support: 1.1037.

Strong Support: 1.1026.

Breakout SELL Level: 1.1020.

Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

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Technical analysis of USD/JPY for August 18, 2015 Market Analysis Review

!_USDJPY.jpg

In Asia, Japan will not release any economic data news, but the US will release some economic data such as Housing Starts, Building Permits, and TIC Long-Term Purchases. So there is a big probability the USD/JPY pair will move with low to medium volatility during the day.

TODAY TECHNICAL LEVELS:

Resistance. 3: 125.07.

Resistance. 2: 124.83.

Resistance. 1: 124.58.

Support. 1: 124.28.

Support. 2: 124.03.

Support. 3: 123.79.

Daily analysis of major pairs for August 18, 2015 Market Analysis Review

EUR/USD: The EUR/USD pair did not move very much yesterday. The little movement that was seen was towards the downside - in the context of an uptrend. For the current bullish outlook to become illogical, the support lines at 1.1000 and 1.0950 must be broken to the downside: otherwise the price could make some renewed bullish attempts.

USD/CHF: This pair continues to move sideways while the overall outlook is bullish. What can invalidate the bullish outlook is an event when the price closes below the support level at 0.9650. But in case it does not happen, this week we can see some bullish attempts, especially if the USD tries to amass lots of stamina.

GBP/USD: The distribution territory at 1.5650 has done its job again on Monday, restricting bullish effort successfully. This distribution territory has flatly rejected sincere bullish efforts for the past several weeks, and the price has trended lower, moving below the distribution territory at 1.5600. The accumulation territory at 1.5550 could be tested easily today.

USD/JPY: The Big Picture on this currency trading instrument shows that there is no dominant trend in the market. Upswings and downswings are often short-lived and sustained trending moves are rather rare. It is expected that the price would either go above the supply level at 125.50 or below the demand level at 123.50. Should this happen, it would mean a strong bullish or bearish outlook.

EUR/JPY: The EUR/JPY pair moved downwards by only 50 pips yesterday. Now the price is close to the demand zone at 137.50; and there is another demand zone at 137.00. Serious buying pressure is, therefore, needed to send the price upwards again.

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Daily analysis of USDX for August 18, 2015 Market Analysis Review

USDX is still trading above the support level of 96.57 and which could be in front of two possible scenarios. One of them is a rebound towards new highs, possibly doing a breakout around the 97.57 level. The other is a lower continuation below the support zone of 96.57 with a mid-term target towards the 95.50 level.

On H1 chart, USDX recovered some positions to the upside. Now, it's testing the 200 SMA price zone around the 96.88 level. A breakout over there will push the index to test the next resistance level of 97.37, which is above of that moving average. However, a pullback could happen until the 96.37 level before that possible rally.

Daily chart's resistance levels: 96.57 / 97.57

Daily chart's support levels: 95.50 / 94.70

H1 chart's resistance levels: 96.88 / 97.37

H1 chart's support levels: 96.37 / 95.94

Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the USD Index breaks with a bearish candlestick; the support level is at 96.37, take profit is at 95.94, and stop loss is at 96.28.

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Daily analysis of GBP/USD for August 18, 2015 Market Analysis Review

On the daily chart, GBP/USD made a pullback at the resistance level of 1.5640 and the ground is ready for a test around 200 SMA, exactly at the support zone of 1.5543. Remember that a breakout there to the downside will enable the pair to visit the support level of 1.5450 on a mid-term basis. MACD indicator is entering the neutral territory.

The short-term outlook is calling for a rebound at the support level of 1.5587, where the 200 SMA is located on the H1 chart. This scenario is possible thanks to the overall trend, which the GBP/USD pair is following on a long-term basis, but we shouldn't discard a breakout towards the support level of 1.5532 in the coming hours.

Daily chart's resistance levels: 1.5640 / 1.5761

Daily chart's support levels: 1.5543 / 1.5450

H1 chart's resistance levels: 1.5632 / 1.5679

H1 chart's support levels: 1.5587 / 1.5532

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 1.5632, take profit is at 1.5679, and stop loss is at 1.5583.

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For detail explanation and best discovery on daily market trends and news you may visit via Daily analysis of GBP/USD for August 18, 2015 . Thanks for your support.