Main Quotes Calendar Forum
flag

FX.co ★ GBP/USD Intraday technical analysis July 5 , 2011

parent
Forex Analysis:::2011-07-05T08:19:55

GBP/USD Intraday technical analysis July 5 , 2011

GBP/USD Intraday technical analysis July 5 , 2011

On the Daily chart , the pair has broken the uptrend line.

Then the pair managed to break the support level 1.6070.

However , the last few daily candlesticks have lower tails indicating rejection of the pair to go lower at the moment.

GBP/USD Intraday technical analysis July 5 , 2011

As we see the pair has retested the broken bearish channel successfully with an engulfing bullish candlestick.

Also closure above 1.6070 indicated the continuity of the upside movement.

Conclusion:

4H closure above 1.6070 gives the LONG signal up to 1.6190 with SL closure below the mentioned level again.

Analyst InstaForex
Share this article:
parent
loader...
all-was_read__icon
You have watched all the best publications
presently.
We are already looking for something interesting for you...
all-was_read__star
Recently published:
loader...
More recent publications...