Daily technical analysis of GBP/USD By INSTAFOREX

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Currency
Rates
EUR / USD
1.11685
USD / JPY
107.915
GBP / USD
1.2455
USD / CHF
0.95126
USD / CAD
1.40235
EUR / JPY
120.524
AUD / USD
0.61652

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painofhell

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Recently, the GBP/USD has been trading sideways at the price of 1.2530. According to the 1H time frame, I found a broken broken upward trendline, which is a sign that buying looks risky. I found a hidden bearish divergence on the moving average oscilator, which is another sign of weakness. My advice is to watch for potetnial selling opportunities. The downward target is set at the price of 1.2375.

Trading recommendations for today:
watch for potential selling opportunities.
 
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mazri_2008

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Analisis Teknikal GBP/USD Untuk 17 April , 2017




Gambaran Keseluruhan:

Pasangan mata wang GBP/USD berhadapan dengan tahap sokongan yang kuat pada tahap 1.2336, 1.2407 dan 1.2478. Walau bagaimanapun, tahap rintangan kecil dilihat pada tahap 1.2478, dan pasangan mata wang ini mungkin berusaha menghampiri tahap ujian sekali lagi. Jika pasangan mata wang ini gagal untuk melepasi tahap 1.2478, pasaran harga akan menunjukkan peluang kenaikan harga di atas tahap sokongan baru 1.2478 yang bertepatan dengan nisbah 61.8% Fibonacci. Selain itu, RSI menunjukkan isyarat arah aliran menaik, tetapi arah aliran tersebut masih menunjukkan kekuatan di atas moving average 100. Pasaran harga menunjukkan peluang kenaikan harga di atas tahap 1.2478, oleh itu adalah sesuai untuk membeli pada tahap 1.2478 dengan sasaran pertama pada tahap 1.2578. Ia juga akan membantu arah aliran menaik untuk meneruskan pergerakan ke arah 1.2635 (rintangan 2). Tahap Rintangan kuat mingguan dilihat pada tahap 1.2635. stop loss perlu sentiasa diambil kira. Ia perlu menetapkan stop loss anda pada tahap 1.2336.
 
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painofhell

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Analysis of wave counting:
In general, it is expected that during the yesterday's trading, the pair GBP / USD continued to develop an upward movement and it was able to work out the mark of 1,2980 in the middle of the day. The resulting wave situation allows us to assume that the currency pair remained in the stage of formation of the waves b, b, C, and (C); which can also take a much more complicated form. At the same time, it should be noted that there are no significant obstacles to the resumption of the growth of quotations and the confirmation by the currency pair of the beginning of the formation of the waves c, b, C, and (C).

General conclusions and trading recommendations:
The British currency completed the construction of the waves a, C, and (C). At the moment, the quotations are expected to decrease within the limits of waves b, b, C, and (C); with targets located near the marks of 1,2883 and 1,2784, which corresponds to 23.6% and 38.2% by Fibonacci. After the completion of this wave, it is possible to resume the increase in quotations within the waves c, b, C, and (C) with targets above 31 figures.
 

painofhell

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Analysis of wave counting:
In general, it is expected that during the yesterday's trading, the pair GBP / USD continued to develop a downward correction and stopped at the level of 1.2930 in the middle of the day. In this case, as a result of this decrease, the internal wave structure of the second wave, in the 3rd, 5th, 3rd, or C, took a completely completed form. If this is so, then practically from the minimum of the past day, the currency pair will resume the growth of quotations and thus signify the beginning of the third wave, in the 3rd, 5th, 3rd, or C.

General conclusions and trading recommendations:
The British currency has again undergone making adjustments to wave counting. At the moment, the quotations are expected to increase within wave 3, 5, 3 or C, with targets near the mark of 1.3148, which corresponds to 76.4% of Fibonacci, and above about 32 figures. Within the limits of the correctional wave 2, 3, 5, 3 or C, the quotations continue to move away from the reached maximum to the area of 30 and 29 figures.
 

michael scotfield

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Overview: In the four-hour chart, the GBP/USD pair is in the bullish trend from the support levels of 1.3036 and 1.3091. 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 1.3091, which coincides with a golden ratio (78.6% of Fibonacci). Consequently, the first support is set at the level of 1.3091. So, the market is likely to show signs of a bullish trend around the spot of 1.3091/1.3100. In other words, buy orders are recommended above the spot of 1.3100 with the first target at the level of 1.3230. Furthermore, if the trend breaks through the first resistance level of 1.3230, the pair will move upwards continuing the development of the bullish trend to the level 1.3307 in order to test the weekly resistance 2. On the other hand, it would also be wise to consider where to place a stop loss; this should be set below the second support of 1.2940.

Read more: https://www.instaforex.com/forex_analysis/95536
 

michael scotfield

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GBP/USD has been consolidating gains in the short-term and the 200 SMA is still providing dynamic support in the short-term. To the upside, we can find a resistance around 1.3257, where bulls could gather momentum in order to reach the resistance area of 1.3364. Overall, the bullish structure remains strong and is still the preferred scenario. Show full picture H1 chart's resistance levels: 1.3257 / 1.3364 H1 chart's support levels: 1.3129 / 1.3058 Trading recommendations for today: Based on the H1 chart, buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.3257, take profit is at 1.3364 and stop loss is at 1.3154.

Read more: https://www.instaforex.com/forex_analysis/95722
 

painofhell

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GBP/USD plummeted following BoE's decision to keep rates unchanged. The pair is now trading under pressure around the 200 SMA zone at H1 chart and it could provide some kind of dynamic support. However, as long as the bears keep active in the Sterling, one could expect another decline to test the 1.3058 level.

H1 chart's resistance levels: 1.3257 / 1.3364
H1 chart's support levels: 1.3129 / 1.3058
Trading recommendations for today: Based on the H1 chart, buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.3257, take profit is at 1.3364 and stop loss is at 1.3154.
 

painofhell

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Recently, the EUR/USD has been trading sideways at the price of 1.3000. The price met our target at 1.2950 and then rejected. Anyway, according to the 30M time frame, I found a trading range between the price of 1.3015 (resistance) and the price of 1.2950 (support). Since the price is testing the resistance at the moment, my advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.2950 and 1.2900. The short - term trend is about to change from bullish to bearish.

Trading recommendations for today: watch for potential selling opportunities.
 

painofhell

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Recently, the GBP/USD has been sideways at the price of 1.2975. Anyway, according to the 30M time frame, I found that price is testing a supply trendline, which is a sign that buying looks risky. I also found a downward channel and my advice is to watch for potential selling opportuntiies. The downward targets are set at the price of 1.2950 and 1.2910. The short term trend is bearish.

Trading recommendations for today: watch for potential selling opportunities.
 

painofhell

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Recently, the GBP/USD pair has been trading sideways at the price of 1.2875. Anyway, according to the 15M time frame, I found a fake breakout of resistance cluster and yesterday's high at 1.2910, which is a sign that buyers got trapped and sellers took control. The RSI oscilator showed a hidden bearish divergence, which is another sign that sellers are in control. My advice is to watch for potential selling opportuntiies. The downwards targets are set at 1.2845 and 1.2810.

Trading recommendations for today: watch for potential selling opportunities.
 
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