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.
The weekly pivot point: 1.6765.
Overview:
- The price of the GBP/USD pair has opened below the weekly resistance 1 at the level of 1.6866. Additionally, it should be noticed that the double top is going to set at 1.6840; and the market was in uptrend two weeks ago. Therefore, the market will probably indicate a bullish opportunity at the level of 1.6765 in the short term. Also, the weekly pivot point will act as strong support on April 25, 2014 because resistance becomes support after breaking it last week. So, according to the previous events, the price is still moving between the price of 1.6765 and the 1.6810 level. Thenceforward, the area above 1.6765 (above the weekly pivot point) looks for further upside with the first target at the 1.6841 level in order to form the double top and continue towards 1.6866 to test the resistance in H1 chart. Notwithstanding, the stop loss should be placed at the price of 1.6730.
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.
Stay 
