11:24 AM
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| Technical Analysis for Gbp/Usd 9-7-2015 |
Gbp/Usd pair move yesterday in the average price movement of 136 Pips, it records the highest level at 1.5465 the lowest levels at 1.5329 levels and closed at 1.5363 to Lose 84 pips according to yesterday’s economic data.
The pair opened today at 1.5363 oscillatory between the 1.5356 and the 1.5382 levels during the Asian session in a trading average of 26 pips for the limitation of the market liquidity, and in the European session the pair went up to 1.5419
The pair is moving in a series of down corrective waves and achieved our target at 50%, 61.8% FIBO retracement after breaking the wedge.
It is expected that the pair Pound against the dollar will go to targeted level at 1.5306 in the next few hours According to economic data today.
Today at 11:00 we are looking for Official Bank Rate from UK
The Relative Strength Indicator "RSI" show us distribution operations at the market and the control of Bears on the market
Medium term trend: up
Support levels: 1.5306 and 1.5249 and 1.5170
Resistance levels: 1.5442 and 1.5521 and 1.5578
For More Technical Outlook FxStations
