Trading Conditions
Products
Tools
We have seen a rally of the 126.75 low. However, we still need a clear break above minor resistance at 129.31 and more importantly, a break above resistance at 130.06. At present, the pair is building a bottom.
So, for now, we should expect minor support at 127.70 that can protect the downside for another test of minor resistance at 129.31 and a break above should open the upside for a firm test of resistance at 130.06.
Only an unexpected break back below support at 126.78 will spoil bullish count once again.
R3: 130.06
R2: 129.64
R1: 129.31
Pivot: 128.75
S1: 128.00
S2: 127.70
S3: 127.33
Trading recommendation:
We bought GBP at 127.80 and we have placed our stop at 126.70
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.