Yesterday the GBP/USD pair moved in a range because some of the Asian markets are closed for holiday. However, the bias in the long term charts still in the bullish situation. However, in the 30-minute chart this pair is trading below the Exponential Moving Average (50) and the RSI (14) is below the 50 level with the MACD still being below the 0 level. It means this currency has got a downside pressure. For today pay attention to the breakout from the Pivot level at 1.6070 and the M2 level at the 1.6029, if it can breach and close above the Pivot level at the 1.6070, this pair will have a chance to go up until the M3 Level at the 1.6093, as the first target and the Resistance 1 at the 1.6116, as an optional target. On the contrary, if this pair can breach and close below the M2 level at the 1.6029, it will have a chance to go down at the Support 1 level at the 1.5987 level and the M1 Level at the 1.5964 for the optional target.
INTRADAY PIVOT LEVELS:
Resistance 3: 1.6245.
Midpoint 5:1.6222.
Resistance 2:1.6199.
Midpoint 4:1.6157.
Resistance 1:1.6116.
Midpoint 3: 1.6093.
Pivot Point: 1.6070.
Midpoint 2:1.6029.
Support 1:1.5987.
Midpoint 1: 1.5964.
Support 2:1.5941.
Midpoint 0: 1.5900.
Support 3: 1.5858.
Best regards,
Official Analyst of InstaForex Companies Group
InstaForex Companies Group
https://instaforex.com
Email: Arief.jakarta@indo.instaforex.com
blog.mt5.com/arief
https://www.mt5.com/forex_analysis_award/profile/index/arief
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