The GBP/USD pair remains locked inside of very narrow zone located between the levels of 1.3122 – 1.3035 and there has been over a month without any important move up or down. The key technical support zone is seen between the levels of 1.2938- 1.12960 and the key technical resistance zone is located between the levels of 1.3258 – 1.3305. The momentum remains neutral and so are the market conditions.
Weekly Pivot Points:
WR3 – 1.3225
WR2 – 1.3177
WR1 – 1.3116
Weekly Pivot – 1.3067
WS1 – 1.3006
WS2 – 1.2961
WS3 – 1.2904
Trading Recommendations:
The best trading strategy for this market for daytraders is to trade the oversold/overbought conditions and support-resistance levels. The swing traders must stay patient and wait for a breakout.
The material has been provided by InstaForex Company – www.instaforex.com
Technical Market Overview:
The GBP/USD pair remains locked inside of very narrow zone located between the levels of 1.3122 – 1.3035 and there has been over a month without any important move up or down. The key technical support zone is seen between the levels of 1.2938- 1.12960 and the key technical resistance zone is located between the levels of 1.3258 – 1.3305. The momentum remains neutral and so are the market conditions.
Weekly Pivot Points:
WR3 – 1.3225
WR2 – 1.3177
WR1 – 1.3116
Weekly Pivot – 1.3067
WS1 – 1.3006
WS2 – 1.2961
WS3 – 1.2904
Trading Recommendations:
The best trading strategy for this market for daytraders is to trade the oversold/overbought conditions and support-resistance levels. The swing traders must stay patient and wait for a breakout.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: