empty
 
 
15.03.2016 10:55 PM
Daily analysis of GBP/USD for March 16, 2016

The H1 chart is still showing a strong support around the 1.4141 level, where a rebound can happen towards the resistance zone of 1.4190, in order to attempt a breakout higher to resume the overall bullish bias. However, if GBP/USD continues to remain stronger in the decline, then we can expect a fall to the 1.4053 level. The MACD indicator is at oversold conditions.

This image is no longer relevant

H1 chart's resistance levels: 1.4190 / 1.4267

H1 chart's support levels: 1.4141 / 1.4053

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.4190, take profit is at 1.4267 and stop loss is at 1.4111.

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 $1000 more!
    In April we raffle $1000 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