The bulls are still dominating the major pairs as the weakness on the US Dollar remains very strong, following the bad data from the United States last week. A resistance can be found at the 1.3375 level, where a breakout should happen to trigger more bullish force towards the 1.3467 level. MACD indicator is reaching overbought conditions.
H1 chart’s resistance levels: 1.3375 / 1.3467
H1 chart’s support levels: 1.3266 / 1.3148
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 1.3375, take profit is at 1.3467 and stop loss is at 1.3285.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
The bulls are still dominating the major pairs as the weakness on the
US Dollar remains very strong, following the bad data from the United
States last week. A resistance can be found at the 1.3375 level,
where a breakout should happen to trigger more bullish force towards
the 1.3467 level. MACD indicator is reaching overbought conditions.
H1 chart’s resistance
levels: 1.3375 / 1.3467
H1 chart’s support levels:
1.3266 / 1.3148
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 1.3375, take profit is at
1.3467 and stop loss is at 1.3285.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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