|GBP/USD Intraday Technical Analysis|
|GBP/JPY Elliott wave count and Fibonacci levels for March 2, 2012|
The spot rate is currently testing the intermediate resistance of its medium term bearish channel at 1.3330 suggesting a decline. However a break of these levels will allow it to reach the upper limit of its channel - 1.3440.
Technical indicators provide sell-signals but are approaching to the oversell zone suggesting a rebound. Bollinger bands have greatly tightened in recent days showing a decline in volatility and the imminence of a violent movement.
According to previous events, the market will indicate a bullish opportunity as soon as the spot rate has broken its resistance at 1.3330 with the 1st objective of 1.3390, then 1.3410. A break through 1.3310 will invalidate this scenario.
Albert Fitoussi is taking part in the "Analyst of the Year" award organized by MT5.com portal. If you like his article, please give your vote for this analyst.
analytical expert: Albert Fitoussi
|InstaForex Group © 2007-2014|
|Recommend: Forex Analytics|
Technical analysis of Silver for April 18, 2014
2014-04-18 06:28:50 UTC+00 4 hours, 6 min. ago
|Views today 1239|
Technical analysis of GBP/CHF for April 18, 2014
2014-04-18 05:56:49 UTC+00 4 hours, 38 min. ago
|Views today 1200|
Technical analysis of USD/CHF for April 18, 2014
2014-04-18 08:11:31 UTC+00 2 hours, 23 min. ago
|Views today 1142|
Daily analysis of GBP/JPY for April 18, 2014
2014-04-18 09:17:09 UTC+00 1 hour, 17 min. ago
|Views today 1028|
Technical analysis of USD/CAD for April 18, 2014
2014-04-18 05:47:37 UTC+00 4 hours, 47 min. ago
|Views today 1072|