empty
 
 
11.07.2017 10:57 PM
Daily analysis of GBP/USD for July 12, 2017

The pair has pulled back from the 200 SMA area at H1 chart and it's currently finding support at the 1.2839 level, amid USD weakness. Overall, as long as GBP/USD remains below that moving average, we might expect a bearish continuation to test the 1.2756 level following a breakout of the 1.2839 zone. MACD indicator supports the downside, as it remains in the negative territory.

This image is no longer relevant

H1 chart's resistance levels: 1.2914 / 1.3011

H1 chart's support levels: 1.2839 / 1.2756

Trading recommendations for today: Based on the H1 chart, buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.2914, take profit is at 1.3011 and stop loss is at 1.2818.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $5000 more!
    In November we raffle $5000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback