For Traders

Analytical Reviews

Technical analysis

19.09.201412:07 Forex Analysis & Reviews: Technical analysis of GBP/USD for September 19 2014

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.

Trading recommendations:

The resistance of the GBP/USD pair has already set at 1.6520 and a minor resistance place at the level of 1.6400.
Furthermore, it will be quite profitable to sell below this level (1.6400) for retesting this level in the long term.
Therefore, sell deals are recommended below 1.6400 with targets at 1.6333 (the level of 1.6333 represents the last opining gap) and resume towards the level of1.6278 to reach a strong support on 19th of September 2014.
On the contrary, the support is going to set at the level of 1.6278 today.
Consequently, the ascending movement will probably be higher than the 1.6278 level with the target at the key price 1.6360.

Notes:

We expect a new range about 85 pips today. The key level will set at the level of 1.6360.
The support of the GBP/USD pair has already set at 1.6278. Moreover, the weekly support 1 will set at the same level.

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.