The price action at 4-hour chart is above the EMA (50), but in the 60-minute chart it is below the EMA (50). As a result, we have an unclear bias for GBP/USD. For this situation the ideal trade that we can do is just only trapping the market. Please pay attention to the breach and close of the price action below the M2 level at 1.6020 and above at the M3 level at the 1.6059, but please be careful of the divergence between the price action and the Stochastic Oscillator for the upside reversal.
INTRADAY PIVOT LEVELS:
Resistance. 3 : 1.6159.
Midpoint. 5 :1.6138.
Resistance. 2 :1.6117.
Midpoint. 4 :1.6099.
Resistance. 1 :1.6080.
Midpoint. 3 : 1.6059.
Pivot Point : 1.6038.
Midpoint. 2 :1.6020.
Support. 1 :1.6001.
Midpoint. 1 : 1.5980.
Support. 2 :1.5959.
Midpoint. 0 : 1.5941.
Support. 3 : 1.5922.
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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