GBP/USD intraday technical levels and trading recommendations for January 9, 2014
January 9, 2014 2:45 pm
By the end of 2013, the bulls managed to recordВ a new high for the year at 1.6576. This was achieved after stabilization of 1.6250 as a support level.
Bearish pressure was applied at price level of 1.6590 to get the pair back again belowВ 1.6460-1.6500 after management of the bulls to breakthrough this zone for a few days.
Few days later, the bears managed to establish a temporary low at 1.6336. Hence, price level of 1.6470 remained the nearest resistance level. The bulls has been pushing towards it since January 6.
The mid-term view remains bearish towards 1.6260-1.6230 as long as the bulls are failing to breakthrough above 1.6460-1.6500 being tested at the current time.В В
A bullish breakout above 1.6500 will probably allow for another bullish impulse towards 1.6600. That’s why, sellers should be watching for today’s daily closure.
The material has been provided by InstaForex Company – www.instaforex.com
By the end of 2013, the bulls managed to recordВ a new high for the year at 1.6576. This was achieved after stabilization of 1.6250 as a support level.
Bearish pressure was applied at price level of 1.6590 to get the pair back again belowВ 1.6460-1.6500 after management of the bulls to breakthrough this zone for a few days.
Few days later, the bears managed to establish a temporary low at 1.6336. Hence, price level of 1.6470 remained the nearest resistance level. The bulls has been pushing towards it since January 6.
The mid-term view remains bearish towards 1.6260-1.6230 as long as the bulls are failing to breakthrough above 1.6460-1.6500 being tested at the current time.В В
A bullish breakout above 1.6500 will probably allow for another bullish impulse towards 1.6600. That’s why, sellers should be watching for today’s daily closure.
The material has been provided by InstaForex Company – www.instaforex.com
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