Forex Analysis: 19 Apr 2012, 06:14 UTC+00

GBP/USD Intraday Technical Analysis

Show full picture


The spot rate is currently testing the upper limit of its medium term bullish channel at 1.6090 and seems to initiate a decline. However, a break through these levels will release good potential and initiate a violent bullish trend.
Technical indicators provide sell-signals and until the resistance is not broken the assumption of a decline is most likely. Bollinger bands are much discarded in the result of a strong increase these days. Stabilization is expected in a short term.


According to previous events the market will provide a bullish opportunity as soon as the spot rate has broken through its resistance of 1.6090 with the 1st objective at 1.6150 and then at 1.6170. A break through 1.6070 will invalidate this scenario.

Performed by
analytical expert: Albert Fitoussi
InstaForex Group © 2007-2016
 Published: 19 Apr 2012, 06:14 UTC+00

Recommend: Forex Analytics
Daily analysis of Silver for September 28, 2016
28 Sep 2016, 20:01 UTC+00   
Views today 2204
Technical analysis of EUR/USD for Sept 28, 2016
28 Sep 2016, 06:05 UTC+00   
Views today 1817
Global macro overview for 28/09/2016
28 Sep 2016, 12:09 UTC+00   
Views today 1810
Technical analysis of USD/CAD for September 28, 2016
28 Sep 2016, 11:41 UTC+00   
Views today 1801
Technical analysis of NZD/USD for September 28, 2016
28 Sep 2016, 10:25 UTC+00   
Views today 1799