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22.05.201917:31 Forex Analysis & Reviews: GBP/USD analysis for May, 22.05.2019

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

GBP price has rejcted of the lower Bollinger band at 1.2623 and is trading just above 1.2657. Bullish divergence on the Stochastic may lead GBP to 1.2686-1.2715 zone.

Exchange Rates 22.05.2019 analysis

Yellow rectangle - horizontal resistance

Yellow rectangle 2- horizontal resistance 2

White downward sloping line - resistance trend line (broken)

GBP price is breaking aboive the white downward sloping line (resistance), which is positive sign so far. Next resistance is at 1.2686 and if broken we expect GBP to continue higher towards 1.2716 The bullish divergence on the Stochastic is confirming the positive feedbak. As long as GBP remains above 1.2620 we remain bullish.

Petar Jacimovic
Analytical expert of InstaForex
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