Technical analysis of GBP/USD for January 02, 2014
January 2, 2014 6:30 am
At the daily charts, the GBP/USD is moving in a sideways direction, however the Stochastic Oscillators have already indicated that this currency gets the downside pressure. If we look at the Moving Average periods 3×3, which we projected for three days ahead, they indicated the slope that want to be flat. So even for now the “Cable” has already got the downside pressure for a few days. This pair will be moving in a ranging situation especially in the first week of January 2014 because not many market participants enter the market.
Trading Forex (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
At the daily charts, the GBP/USD is moving in a sideways direction, however the Stochastic Oscillators have already indicated that this currency gets the downside pressure. If we look at the Moving Average periods 3×3, which we projected for three days ahead, they indicated the slope that want to be flat. So even for now the “Cable” has already got the downside pressure for a few days. This pair will be moving in a ranging situation especially in the first week of January 2014 because not many market participants enter the market.
Best regards,
Arief Makmur
Official Analyst of InstaForex Companies Group
InstaForex Companies Group
http://instaforex.com
blog.mt5.com/arief
http://www.mt5.com/forex_analysis_award/profile/index/arief
Disclaimer :
Trading Forex (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
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