Forex Analysis: 2012-04-19 08:14:33 UTC+00 2 years, 22 hours, 3 min. ago
GBP/USD Intraday Technical Analysis


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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.

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.

Performed by
analytical expert: Albert Fitoussi
InstaForex Group © 2007-2014
 Published: 2012-04-19 08:14:33 UTC+00 2 years, 22 hours, 3 min. ago

 
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