empty
 
 
07.04.2014 02:41 PM
Intraday technical levels and trading recommendations for GBP/USD for April 7, 2014

This image is no longer relevant

Around price level of 1.6780, a double-top pattern scenario was established with the neckline located around the price zone of 1.6620-1.6660.

Daily fixation below this price zone enabled the pair to reach 1.6464 (61.8% Fibonacci) as a projection target.

The recently achieved low of 1.6465 (also corresponding to a previous uptrend line) prevented further decline. Yet, the bulls were unable to fix above 1.6630-1.6666 (corresponding to a prominent top established on January 24).

This applied bearish pressure to push the pair back towards 1.6545 ( corresponding to the uptrend line and 50% Fibonacci ). Price action should be watched at retesting.

A slide below price zone of 1.6550-1.6535 applies bearish pressure on the pair to pursue towards lower lows around 1.6510 and 1.6470.

Otherwise, the uptrend remains intact and the bulls would be targeting at 1.6750-1.6775.

This image is no longer relevant

As suggested, the price zone of 1.6666-1.6690 offered a valid sell entry. Stop loss should be lowered to be four-hour closure above 1.6650.

The bears need to achieve a four-hour closure below 1.6600 to push for further lows. However, until now there's bullish support being offered at 1.6550 ( Friday's lowest price level ).

Moreover, there's lack of bearish follow up below 1.6600. All we can see is weak bearish candlesticks which can result in bullish reversal anytime.

On the other hand, four-hour fixation above 1.6650 will be a signal of weakness of the bears to pursue their downtrend exposing price levels of 1.6680 and 1.6775 for retesting.

Dapatkan keuntungan dari perubahan nilai mata uang kripto dengan InstaForex.
Unduh MetaTrader 4 dan buka perdagangan pertama Anda.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    GABUNG KONTES
  • Chancy Deposit
    Isi akun Anda sebesar $3000 dan dapatkan $1000 lebih banyak!
    Pada Juni kami mengundi $1000 dalam promo Chancy Deposit!
    Dapatkan kesempatan untuk menang dengan melakukan deposit sebesar $3000 pada akun trading Anda. Setelah memenuhi persyaratan ini, Anda telah menjadi partisipan promo.
    GABUNG KONTES
  • Trade Wise, Win Device
    Top up akun anda dengan dana minimal $500, daftar kontes, dan dapatkan peluang untuk memenangkan perangkat seluler.
    GABUNG KONTES
  • 100% Bonus
    Kesempatan langka untuk mendapatkan bonus 100% pada deposit anda
    DAPATKAN BONUS
  • 55% Bonus
    Ajukan bonus 55% pada setiap deposit anda
    DAPATKAN BONUS
  • 30% Bonus
    Raih bonus 30% setiap kali anda top up
    DAPATKAN BONUS

Artikel yang direkomendasikan

Tidak bisa bicara sekarang?
Tanyakan pertanyaan anda lewat chat.
Widget callback