GBP/USD weekly technical analysis for April 01-05, 2013
April 1, 2013 8:30 am
If we look at the triangle pattern of this currency, volatility should be taken into consideration. Maybe for this week the GBP/USD pair will stick between its strong support (1.5128-1.5132) and its strong resistance (1.5220-1.5224). However, if in the course of the week the GBP/USD pair can breach bellow the strong support level (1.5128-1.5132), then 1.5092 and 1.5047 will be its targets for this week. On the opposite, if this currency can breach above the strong resistance level (1.5220-1.5224), then 1.5260 and 1.5305 will be its next targets for this week.
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
The material has been provided by InstaForex Company – www.instaforex.com
If we look at the triangle pattern of this currency, volatility should be taken into consideration. Maybe for this week the GBP/USD pair will stick between its strong support (1.5128-1.5132) and its strong resistance (1.5220-1.5224).
However, if in the course of the week the GBP/USD pair can breach bellow the strong support level (1.5128-1.5132), then 1.5092 and 1.5047 will be its targets for this week. On the opposite, if this currency can breach above the strong resistance level (1.5220-1.5224), then 1.5260 and 1.5305 will be its next targets for this week.
Best regards,
Arief Makmur
Official Analyst of InstaForex Companies Group
InstaForex Companies Group
http://instaforex.com
Email: [email protected]
Yahoo Messenger and Skype : Arief.ifx_jakarta
blog.mt5.com/arief
http://www.mt5.com/forex_analysis_award/profile/index/arief
Disclaimer:
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: