GBP/USD – strong resistance 1.5453 – for April 12, 2013 (daily strategy)
April 12, 2013 4:15 pm
The British pound tried to break the level of 1.5411 for two consecutive days, but failed to hold above this price. This morning during the U.S. session it has showed a bearish tint, which is likely to continue the correction of the pair, until weekly pivot levels of 1.5243. This area is a very strong support. If the pair manages to close below this level, the outlook for the pound would be bearish again. 1.4910 is the target in the medium term. On the other hand, this pair has a strong resistance at 1.5453. Although we note that the pair lost strength and less probable to reach that area, however, the Momentum Indicator is testing the moving average of the MACD, the breakdown of it will be the confirmation to sell the British pound steadily.
If you need personal consultation, contact me via e-mail: [email protected]
The material has been provided by InstaForex Company – www.instaforex.com
The British pound tried to break the level of 1.5411 for two consecutive days, but failed to hold above this price. This morning during the U.S. session it has showed a bearish tint, which is likely to continue the correction of the pair, until weekly pivot levels of 1.5243. This area is a very strong support. If the pair manages to close below this level, the outlook for the pound would be bearish again. 1.4910 is the target in the medium term. On the other hand, this pair has a strong resistance at 1.5453. Although we note that the pair lost strength and less probable to reach that area, however, the Momentum Indicator is testing the moving average of the MACD, the breakdown of it will be the confirmation to sell the British pound steadily.
If you need personal consultation, contact me via e-mail: [email protected]
The material has been provided by InstaForex Company – www.instaforex.com
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