Daily chart: In yesterday’s session, the GBPUSD pair was very bearish, falling below the support at the 1.5407 level and approaching the level of 1.5266. However, it is quite possible that during this week, the GBPUSD pair falls to that level. If GBPUSD manages to break that level of 1.5266, it is expected to fall to the level of 1.5159. On the other hand, if GBPUSD manages to make a bullish rebound at current levels, it would be expected to rise to the level of 1.5407. For now, the GBPUSD pair is forming a higher low pattern, to continue falling to the level of 1.5266. The MACD indicator remains in negative territory.
H4 chart: The GBPUSD pair failed to break and consolidate above the 200-day moving average. Now, GBPUSD is below the support at the 1.5341 level and the bearish trend line close by. GBPUSD is forming a higher low pattern and is likely to fall to the level of 1.5260. However, if GBPUSD again manages to break the resistance level of 1.5341, it is expected to rise to the level of 1.5411, which houses the SMA 200. The MACD indicator is in negative territory, but it is possible that in the coming hours into neutral territory.
H1 chart: The GBPUSD pair failed to break the Point of Control (POC) at the level of 1.5355 and broke the support at the 1.5351 level. In yesterday’s session, the pair touched 1.5296 level and this made a bullish rebound on it. The GBPUSD pair is approaching resistance at the 1.5353 level, if GBPUSD manages to break that resistance, it would be expected to rise to the level of 1.5376. Furthermore, if GBPUSD manages to break the support level at 1.5296, it is expected to drop to the level of 1.5249. We should note that the MACD indicator is in positive territory.
Fundamental outlook: For today’s session, in the UK at 8:30 GMT the Current Account (Previous: -14.0B / Forecast: -11.9B) will be published.
Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the GBP/USD pair breaks with a bearish candlestick, the support level is at 1.5296, take profit is at 1.5249, and stop loss is at 1.5345.
The material has been provided by InstaForex Company – www.instaforex.com
Daily chart: In yesterday’s session, the GBPUSD pair was very bearish, falling below the support at the 1.5407 level and approaching the level of 1.5266. However, it is quite possible that during this week, the GBPUSD pair falls to that level. If GBPUSD manages to break that level of 1.5266, it is expected to fall to the level of 1.5159. On the other hand, if GBPUSD manages to make a bullish rebound at current levels, it would be expected to rise to the level of 1.5407. For now, the GBPUSD pair is forming a higher low pattern, to continue falling to the level of 1.5266. The MACD indicator remains in negative territory.
H4 chart: The GBPUSD pair failed to break and consolidate above the 200-day moving average. Now, GBPUSD is below the support at the 1.5341 level and the bearish trend line close by. GBPUSD is forming a higher low pattern and is likely to fall to the level of 1.5260. However, if GBPUSD again manages to break the resistance level of 1.5341, it is expected to rise to the level of 1.5411, which houses the SMA 200. The MACD indicator is in negative territory, but it is possible that in the coming hours into neutral territory.
H1 chart: The GBPUSD pair failed to break the Point of Control (POC) at the level of 1.5355 and broke the support at the 1.5351 level. In yesterday’s session, the pair touched 1.5296 level and this made a bullish rebound on it. The GBPUSD pair is approaching resistance at the 1.5353 level, if GBPUSD manages to break that resistance, it would be expected to rise to the level of 1.5376. Furthermore, if GBPUSD manages to break the support level at 1.5296, it is expected to drop to the level of 1.5249. We should note that the MACD indicator is in positive territory.
Fundamental outlook: For today’s session, in the UK at 8:30 GMT the Current Account (Previous: -14.0B / Forecast: -11.9B) will be published.
Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the GBP/USD pair breaks with a bearish candlestick, the support level is at 1.5296, take profit is at 1.5249, and stop loss is at 1.5345.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: