Despite the momentum gathered by the greenback across the markets, the pair struggles to get outside from the range in which has been trapped during the week. The support zone of 1.2928 remains the same and we’re still expecting a break below there in order to witness a decline towards the next target to the downside of 1.2872. MACD indicator favors that scenario.
H1 chart’s resistance levels: 1.2992 / 1.3038
H1 chart’s support levels: 1.2928 / 1.2872
Trading recommendations for today: Based on the H1 chart, buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.2992, take profit is at 1.3038 and stop loss is at 1.2945.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Despite the momentum gathered by the greenback across the markets, the pair struggles to get outside from the range in which has been trapped during the week. The support zone of 1.2928 remains the same and we’re still expecting a break below there in order to witness a decline towards the next target to the downside of 1.2872. MACD indicator favors that scenario.
H1 chart’s resistance levels: 1.2992 / 1.3038
H1 chart’s support levels: 1.2928 / 1.2872
Trading recommendations for today: Based on the H1 chart, buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.2992, take profit is at 1.3038 and stop loss is at 1.2945.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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