Trading Conditions
Products
Tools
Daily chart: The GBP/USD has made a pullback on the resistance level of 1.7169, so this pair forming a bullish pattern continues below this level. If GBP/USD manages to make a breakout at the level of 1.7150, it's expected to fall to the support level of 1.7000. The MACD indicator is in positive territory.
H4 chart: This pair has found support on the bullish trend line that is near to the 1.7140 level, so it is very likely that the GBP/USD will attempt to climb to the level of 1.7250. If GBP/USD manages to make a bullish breakout in the trend line, it is expected to fall to the level of 1.7062. The MACD indicator is in negative territory.
H1 chart: The GBP/USD has found support on the point of control that is close to the level of 1.7135, so the bullish outlook remains valid for this pair. If GBP/USD manages to make a breakout in the support level of 1.7150, it's expected to fall to the level of 1.7100. The MACD indicator is in positive territory.
Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.7200, take profit is at 1.7250, and stop loss is at 1.7150.
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.