07.04.201506:03 Forex Analysis & Reviews: Technical analysis and trading recommendation for GBP/USD for April 07, 2015

Long-term review

Tieto informácie poskytujeme retailovým a profesionálnym klientom ako súčasť marketingovej komunikácie. Neobsahujú investičné poradenstvo, investičné odporúčania, ponuku ani výzvu na vykonanie transakcie alebo použitie stratégie na finančných nástrojoch a ani by sa tak nemalo s nimi zaobchádzať. Minulá výkonnosť nie je zárukou ani predikciou budúceho výkonu. Spoločnosť Instant Trading EU Ltd. neručí a nepreberá žiadnu zodpovednosť za správnosť a úplnosť poskytovaných informácií ani za stratu, ktorá by vyplynula z akejkoľvek investície založenej na analýze, predpovedi alebo iných informáciách poskytnutých zamestnancom spoločnosti alebo iným spôsobom. Celé vylúčenie zodpovednosti nájdete tu.

Today, traders eye on the UK services PMI. Last month, it was printed in negative bias. At yesterday's session, the cable hold the 20Dsma and closed above that. Today, the cable holds the 2Dsma trading on a positive bias at the Asia session. The cable gave an inverse head and shoulder breakout in the hourly chart.

The trading pattern has been framed between 1.5000 and 1.4740. Today, the British pound is trading higher against USD ahead of the data releases from the US and UK. Until the price closes below 1.5000, gates are open for 1.4660 on the down side. Intraday support is seen at 1.4840 and resistance is seen at 1.4920. We can expect strong upswing only above 1.5000 in case the price closes above on a daily basis. Eventually, the pound looks weak against USD ahead of political drama. UK is slowly approaching its general election scheduled for May. Market participants expect the pound to get under a downward pressure. We recommend selling below 1.4840 with targets at 1.4800, 1.4770, 1.4750, 1.4720, and 1.4690. On the higher side we recommend buying above 1.4920 with targets art 1.4990, strong upswing looms above 1.5000.

Trade: Selling below 1.4840

Buying above 1.4920.

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.