GBP/USD analysis for February 17, 2017
February 17, 2017 11:39 amVideo
Latest News
- Technical Analysis – GBPUSD tumbles to 5-month low April 22, 2024
- Weekly forecast based on simplified wave analysis for EUR/USD, USD/JPY, GBP/JPY, USD/CAD, NZD/USD, and Gold on April 22nd April 22, 2024
- Video market update for April 22, 2024 April 22, 2024
- Weekly Technical Outlook: 22/04/2024 – Dollar index, USDJPY, EURUSD April 22, 2024
- Market Comment – Risk appetite returns as geopolitical fears calm April 22, 2024
- Weekly Technical Outlook – Dollar index, USDJPY, EURUSD April 22, 2024
- Forex forecast 04/22/2024: EUR/USD, GBP/USD, USD/JPY and Bitcoin from Sebastian Seliga April 22, 2024
- USD/JPY: trading tips for beginners for European session on April 22 April 22, 2024
- Technical Analysis – EURUSD consolidates after decline pauses April 22, 2024
- GBP/USD: trading tips for beginners for European session on April 22 April 22, 2024
- EUR/USD: trading tips for beginners for European session on April 22 April 22, 2024
- Hot forecast for EUR//USD on April 22, 2024 April 22, 2024
- Technical Analysis – EURJPY rallies ahead of key market events April 22, 2024
- Trading plan for GBP/USD on April 22. Simple tips for beginners April 22, 2024
- Trading plan for EUR/USD on April 22. Simple tips for beginners April 22, 2024
- Forecast for EUR/USD on April 22, 2024 April 22, 2024
- Forecast for GBP/USD on April 22, 2024 April 22, 2024
- Forecast for AUD/USD on April 22, 2024 April 22, 2024
- Trading Signals for GOLD (XAU/USD) for April 19-22, 2024: sell below $2,395 (+2/8 Murray – overbought) April 19, 2024
- USD/JPY: Simple Trading tips for novice traders on April 19th (US session) April 19, 2024
Recently, the GBP/USD pair has been trading downwards. The price tested the level 1.2388 after the negative number in retails sales. According to the 1H time frame, I found potential parabolic bottoming (my own pattern), which is a sign that selling looks risky. There is also an unconfirmed hidden bullish divergence, which is another sign of potential strength. My advice is to watch for potential buying opportunities. The first target is set at the price of 1.2500.
Resistance levels:
R1: 1.2415
R2: 1.2425
R3: 1.2450
Support levels:
S1: 1.2390
S2: 1.2385
S3: 1.2375
Trading recommendations for today: watch for potential buying opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
Related Posts: