04.10.201811:56 Forex Analysis & Reviews: GBP/USD analysis for October 04, 2018

Long-term review

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.

Recently, the GBP/USD pair has been trading sideways at the price of 1.2970. According to the H1 time – frame, I found a fake breakout of the yesterday's low at the price of 1.2940, which is a sign that selling looks risky. I also found the hidden bullish divergence on the MACD oscillator, which is another sign of the strength. Watch for buying opportunities. The take profit levels are set at the price of 1.3020 and at the price of 1.3110.

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.