Technical analysis of GBP/USD for April 02, 2014
April 2, 2014 5:40 amVideo
Latest News
- Analysis of the GBP/USD pair on April 18, 2024 April 18, 2024
- Analysis for EUR/USD pair on April 18th. Dull ending to a dull week April 18, 2024
- USD/JPY: Simple trading tips for novice traders on April 18th (US session) April 18, 2024
- GBP/USD: Simple trading tips for novice traders on April 18th (US session) April 18, 2024
- EUR/USD: Simple trading tips for novice traders on April 18th (US session) April 18, 2024
- GBP/USD: trading plan for the US session on April 18th (analysis of morning deals) April 18, 2024
- Trading Signals for EUR/USD for April 18-20, 2024: buy above 1.0641 (21 SMA – 2/8 Murray) April 18, 2024
- Bitcoin slides ahead of halving event – Crypto News April 18, 2024
- Trading Signals for BITCOIN (BTC/USD) for April 18-20, 2024: buy above $62,500 or $63,037 (4/8 Murray – rebound) April 18, 2024
- GBP/USD. April 18th. Andrew Bailey did not clarify the situation on QE April 18, 2024
- Trading Signals for GOLD (XAU/USD) for April 18-20, 2024: buy above $2,375 (6/8 Murray – 21 SMA) April 18, 2024
- Technical Analysis – Netflix stock moves within narrow range ahead of earnings April 18, 2024
- Technical Analysis – GBPUSD tries to recoup some losses April 18, 2024
- USD/JPY in crisis April 18, 2024
- EUR/USD: trading plan for US session on April 18. EUR gets stuck at 1.0686 April 18, 2024
- Fed to keep policy tight for longer than markets view April 18, 2024
- Technical Analysis – BTCUSD drops to 6-week low as halving looms April 18, 2024
- Midweek Technical Look – EURUSD, US 500, WTI April 18, 2024
- Technical Analysis – AUDJPY pulls back but stays in uptrend April 18, 2024
- Forex forecast 04/18/2024: EUR/USD, USD/JPY, Oil and Bitcoin from Sebastian Seliga April 18, 2024
Traders eye Construction PMI data which is going to be printed today and Services PMI tomorrow. The
Markit/CIPS Manufacturing Purchasing Managers’ Index (PMI) fell in March to
55.3, its lowest since last July and below all forecasts in a Reuters poll
of economists. February’s reading was sharply cut to 56.2 from an
originally reported 56.9. It was the fourth month in a row when the index fell.
Growth in British manufacturing unexpectedly eased to its slowest pace in eight
months in March, and prices paid by the factories tumbled, a survey showed yesterday. In our yesterday’s report, we expected these data. The February number was revised from an originally
reported 56.9. Export orders growth slowed, other sub-sectors recorded a
healthier performance.
Technical view- sell
The pair has broken the
uptrend supporting trend line in the H4 chart. In the Asian’s trading session,
the pair is trading at 1.6630 holding the minor support at 1.6628. If it breaks this support, it will drift up to 1.6609, 1.6592, and 1.6571 on an intraday basis. Being in a sell mode will give a good
money in 1 or 2 days time frame. The RSI is still in sell mode. On the up side,
1.6666 is the strong resistance, above this, 1.6718 is the major resistance
levels.
On a positional basis, the
level of 1.66 is the minor support and 1.6585 (50SMA) is the strong support. If a
day close below the 1.6585 level, we will see a huge fall to 1.6465 (61.8
FIB), below this, 1.6257 and 1.62 levels will come.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: