empty
 
 
15.01.2018 12:26 PM
Technical analysis of GBP/USD for January 15, 2018
This image is no longer relevant

Overview:

  • On the four-hour chart, the GBP/USD pair bullish trend is formed from the support levels of 1.3755 and 1.3705. Currently, the price is in a bullish channel. This is confirmed by the RSI indicator signaling that we are still in a bullish trending market. As the price is still above the moving average (100), immediate support is seen at 1.3755. Consequently, the first support is set at the level of 1.3755. So, the market is likely to show signs of a bullish trend around the spot of 1.3755/1.3770. In other words, buy orders are recommended above the area of 1.3755/1.3770 with the first target at the level of 1.3866. Furthermore, if the trend is able to break through the first resistance level of 1.3866, we should see the pair climbing towards the next target of 1.3925 to test it. It would also be wise to consider where to place a stop loss; this should be set below the second support of 1.3705.
Summary
Urgency
Analytic
Mourad El Keddani
Start trade
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 $6000 more!
    In December we raffle $6000 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
  • 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