DESCRIPTION:

The GBP/USD is still heading to the South with a healthy bearish Momentum; this already was indicated by all the three Moving Averages forming the Death Cross pattern. Today this currency must reach the target of 1.5375. If this level is not touched, then it will be the sign for a decreasing bearish momentum from this currency.

Recommendation:

Sell stop (pending order) at 1.5448.

Take profit 1 at 1.5414.

Take profit 2 at 1.5359 (optional).

Stop loss at 1.5504.

Or

Buy stop (pending order) at 1.5550.

Take profit 1 at 1.5581.

Take profit 2 at 1.5632 (optional).

Stop loss at 1.5501.

Best regards,

Arief Makmur

Official Analyst of InstaForex Group

InstaForex Group

http://www.ifxwork.com

Email: Arief.jakarta@indo.instaforex.com 

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.