You are here: Home > articles > Forex > GBP/USD intraday technical levels and trading recommendations for February 17, 2014
GBP/USD intraday technical levels and trading recommendations for February 17, 2014
February 17, 2014 4:15 pmVideo
Latest News
- Market Comment – Safe havens jump as Israel retaliates against Iran April 19, 2024
- Technical Analysis – USDCAD puts rally on hold near 1.3800 caution zone April 19, 2024
- USD/JPY: trading tips for beginners for European session on April 19 April 19, 2024
- GBP/USD: trading tips for beginners for European session on April 19 April 19, 2024
- EUR/USD: trading tips for beginners for European session on April 19 April 19, 2024
- Supercharged US dollar turns to GDP growth data – Preview April 19, 2024
- Technical Analysis – USDCHF remains in bullish structure April 19, 2024
- Hot forecast for EUR/USD on April 19, 2024 April 19, 2024
- We’ve Donated Books in Vietnam for Children’s Day April 19, 2024
- Week Ahead – US GDP and BoJ decision on top of next week’s agenda April 19, 2024
- Technical Analysis – GBPJPY range trading continues April 19, 2024
- Overview of the GBP/USD pair on April 19th. The Bank of England may lower the rate in May April 19, 2024
- Overview of the EUR/USD pair on April 19th. Jerome Powell crushed all euro growth prospects April 19, 2024
- Key events on April 19: fundamental analysis for beginners April 19, 2024
- Trading plan for GBP/USD on April 19. Simple tips for beginners April 19, 2024
- Trading plan for EUR/USD on April 19. Simple tips for beginners April 19, 2024
- Forecast for EUR/USD on April 19, 2024 April 19, 2024
- Forecast for GBP/USD on April 19, 2024 April 19, 2024
- Forecast for USD/JPY on April 19, 2024 April 19, 2024
- Technical Analysis of Intraday Price Movement of Litecoin Cryptocurrency, Friday April 19 2024. April 19, 2024
A considerable support was provided around 1.6250. This price level corresponds to the previous multiple tops as well as recent bottom established around 1.6250.
A breakthrough above the price zone of 1.6590-1.6660 opened the way directly towards the upper limit of the depicted channel around 1.6820 where the bulls failed to fix above.
The upper limit of the ongoing bullish channel provided considerable resistance for the pair resulting in an inverted Hammer daily candlestick.
A bearish impulse towards 1.6590-1.6660 is expected to take place where a bullish position can be taken if the bulls express enough bullish presence around this area. This needs careful watching of price action on the shorter time frames.
Breakdown of 1.6600-1.6590 clears the way towards a more prominent support around 1.6475 (previous established bottom).
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: