For Traders

Analytical Reviews

Technical analysis

23.05.201919:36 Forex Analysis & Reviews: GBP/USD analysis for May, 23.05.2019

Long-term review

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/USD price has has been trading upside as we expected. The GBP tested the level of 1.2670. We are still expecting more upside on the GBP.

Red horizontal line - horizontal resistance

White line- Bullish divergence line

The bullish divergence on the H4 time-frame did set the tone for the day. The price is now testing the medium Bollinger band at 1.2675. Our advice is to watch for potential breakout of the medium Bollinger to confirm further upward movement. Watch for potential test of 1.2743. Key support is set at the price of 1.2605.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.