empty
 
 
31.05.2012 02:53 PM
GBP/USD Intraday Technical Analysis and Linear Regression Channels for May 31, 2012

This image is no longer relevant

The Linear Regression Channels 1H Chart for the GBP/USD illustrates:

Yesterday the GBP/USD pair expressend quite steep bearish movement breaking down the Intraday Support at 1.5555 exceeding the Average Daily Range to record a daily low at 1.5474.

It is important to note that exceeding the Average Daily Range usually indicates a possible bullish retracement to take place soon after

The Bearish Violet channel which represents Yesterday's movement was broken to the upside few hours ago allowing the pair to test Price Level 1.5510 corresponding to the upper limit of the Blue channel and the mid-line of the Yellow one.

Price Level 1.5565 constitutes a significant Intraday resistance level as it corresponds to the upper limit of the bearish Yellow channel & previous boken buttom which is expected to act as resistance for the pair.

In order to reach level 1.5565, the GBP/USD pair should pass through its minor resistance level at 1.5510. Otherwise, The downtrend is going to be resumed sooner than expected.

Based on the previous analysis

The market offers a SELL opportunity around price level 1.5570 with SL located above 1.5620.

TP levels are to be located at 1.5510 then 1.5460.

 

Best Regards.

If you like my articles, please vote for me in Analyst of the Year Contest by clicking here.

Mohamed Samy,
Especialista em análise na InstaForex
© 2007-2025
Summary
Urgency
Analytic
Mohamed Samy
Start trade
Ganhe com as variações das taxas das criptomoedas com a InstaForex.
Baixe o MetaTrader 4 e abra a sua primeira operação.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    PARTICIPE DO CONCURSO
  • Chancy Deposit
    Deposite US $ 3.000 em sua conta e receba $6000 mais!
    Em Dezembro nós sorteamos $6000 na campanha Chancy Deposit!
    Tenha a chance de ganhar, depositando $3,000 em sua conta de negociação. Após cumprir essa condição, você se torna um participante da campanha.
    PARTICIPE DO CONCURSO
  • Trade Wise, Win Device
    Abasteça a sua conta com pelo menos $500, inscreva-se no concurso e tenha a chance de ganhar dispositivos móveis.
    PARTICIPE DO CONCURSO
  • Bônus de 30%
    Receba um bônus de 30% toda vez que você fizer um depósito em sua conta
    RECEBA O BÔNUS

Recommended Stories

Não pode falar agora?
Faça sua pergunta no chat.
Widget callback