empty
 
 
27.08.2015 12:40 AM
Daily analysis of GBP/USD for August 27, 2015

GBP/USD has been trading in a very bearish tone below the 200 SMA in the daily chart, where the pair is consolidating to make a breakout at the level of 1.5438 and reach the level of 1.5329. However, the overall trend is still pointing to the upside, and GBP/USD could resume the bullish bias. The MACD indicator is entering the negative territory.

This image is no longer relevant

On the H1 chart, the trend is bearish, and it is currently showing the first swing formation above the support level of 1.5463. Below that zone, the pair could reach the next low around the level of 1.5415. The 200 SMA is slightly bearish in this timframe/ That is why sellers are still alive in the short-term outlook.

This image is no longer relevant

Daily chart's resistance levels: 1.5543 / 1.5640

Daily chart's support levels: 1.5438 / 1.5329

H1 chart's resistance levels: 1.5526 / 1.5561

H1 chart's support levels: 1.5463 / 1.5415

Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the GBP/USD pair breaks a bearish candlestick; the support level is at 1.5463, take profit is at 1.5415, and stop loss is at 1.5511.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $9000 more!
    In May we raffle $9000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback