For Traders

Analytical Reviews

Technical analysis

12.04.201215:53 Forex Analysis & Reviews: GBP/USD Intraday Technical Analysis (Linear Regression Channel) for April 12, 2012

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 Linear regression channel for the hourly chart gives the following data :
The GBP/USD currency pair has been trading within a wide range slightly bullish Yellow channel for the past three days.
Since the moment GBP/USD managed to fixate above 1.5888, it gathered bullish strength pushing to the upside towards the upper limit of the Yellow channel at 1.5965.
Price levels 1.5965 and 1.6000 stand as Solid Intraday Resistance levels which are worth watching today for a possible valid low risk SELL entry.
SL is to be located above 1.6030. Targets are open to be determined according to strength of the coming movement.

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.