29.04.202214:23 Forex Analysis & Reviews: Technical review for GBP/USD: limited growth may take place

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

GBP/USD found support at 1.2420 ahead of the Fed meeting next week. Also, limited growth may take place amid the closure of some dollar positions in the wake of a technical rebound.Technical picture:The quote is above the middle line of the Bollinger indicator, above SMA 5 and SMA 14. Meanwhile, the relative strength index (RSI) has left the oversold zone, while the stochastic indicator is growing steadily and is above 50%.Possible dynamics:The pair may climb to 1.2610 after rising above 1.2535.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.