Forex Analysis: 2012-04-19 08:14:33 UTC+00 2 years, 3 days, 22 hours, 25 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.

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Performed by
analytical expert: Albert Fitoussi
InstaForex Group © 2007-2014
 Published: 2012-04-19 08:14:33 UTC+00 2 years, 3 days, 22 hours, 25 min. ago

 
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