Main Quotes Calendar Forum
flag

FX.co ★ GBP/USD Intraday Technical Analysis August 5, 2011

parent
Forex Analysis:::2011-08-05T09:10:12

GBP/USD Intraday Technical Analysis August 5, 2011

GBP/USD Intraday Technical Analysis August 5, 2011

Bearish engulfing daily candlestick enhances the previously mentioned DAILY DOUBLE TOP pattern.

Price is still finding support at 1.6200 1.6250, it needs to be broken to open the way for the bears.

This support prevents the pair from declining and visiting 1.6000-1.6040.

GBP/USD Intraday Technical Analysis August 5, 2011

Multiple tops on the 4H chart, the neck-line is found at 1.6230 - 1.6250.

4H closure below the neckline confirms the pattern targeting 1.6145, 1.6076 then 1.6025.

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...