|Reading||0.2% m/m; 2.4% y/y|
|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.
analytical expert: Albert Fitoussi
|InstaForex Group © 2007-2015|
|Recommend: Forex Analytics|
Technical analysis of Silver for July 03, 2015
3 Jul 2015, 09:57 UTC+00
|Views today 1573|
Technical analysis of NZD/USD for July 03, 2015
3 Jul 2015, 11:48 UTC+00
|Views today 1437|
Technical analysis of EUR/JPY for July 03, 2015
3 Jul 2015, 09:50 UTC+00
|Views today 1501|
Elliott wave analysis of EUR/JPY for July 3 - 2015
3 Jul 2015, 07:50 UTC+00
|Views today 1227|
Technical analysis of GBP/CHF for July 03, 2015
3 Jul 2015, 09:41 UTC+00
|Views today 1270|