Forex: GBP/USD Technical Analysis – Oscillating Around 1.65 Figure

| 26 mars, 2014 | 0 kommentarer

To receive Ilya’s analysis directly via email, please SIGN UP HERE

Talking Points:

  • GBP/USD Technical Strategy: Flat
  • Support: 1.6469-89 (61.8% Fib ret., trend line), 1.6386 (76.4% Fib ret.)
  • Resistance: 1.6536 (50% Fib ret.), 1.6604 (38.2% Fib ret.)

The British Pound continues to hold above support marked by a rising trend line set from mid-November against the US Dollar. This barrier is reinforced by the 61.8% Fibonacci retracement at 1.6469, with a break downward initially exposing the 76.4% level at 1.6386. Alternatively, a daily close above resistance at 1.6536 – the 50% Fib – targets the 38.2% retracement at 1.6604.

Risk/reward considerations argue against entering short with prices wedged tightly between near-term up- and down-side technical barriers. With that in mind, we will continue to stand aside until a more attractive trade setup presents itself.

Confirm your chart-based trade setups with the Technical Analyzer. New to FX? Start Here!

dailyclassics_gbp-usd_body_Picture_12.png, Forex: GBP/USD Technical Analysis  Oscillating Around 1.65 Figure

Daily Chart – Created Using FXCM Marketscope 2.0

— Written by Ilya Spivak, Currency Strategist for DailyFX.com

Taggar: ,

Kategori: Analys från DailyFX

Om skribenten ()

DailyFX från FXCM ger dig dagligen färska tekniska analyser på valuta och råvaror. FXCM är en ledande handelsplattform för trading av finansiella tillgångar med kraftfulla verktyg för alla sorters handel.

Lämna ett svar

Din e-postadress kommer inte publiceras. Obligatoriska fält är märkta *