fxpulsation
Posts : 8759
Join date : 2012-01-25
 |  Subject: Technical Analysis for GBP  Thu Jan 23, 2014 1:34 pm | |
|  Technical Analysis for GBP The pair moved sharply to the upside yesterday and stabilized above 1.6500 and 1.6515 which is positive. Linear Regression Indicators are positive; despite that Stochastic is within overbought areas, we will ignore these signals as long as the pair stabilizes above 1.6465 in the upcoming period. Breaching the previous top around resistance level 1.6600 will trigger another bullish rally. Support: 1.6515, 1.6500, 1.6465, 1.6420, 1.6405 Resistance: 1.6600, 1.6665, 1.6680, 1.6720, 1.6765 Recommendation Based on the above, buy the pair above 1.6550 targeting 1.6600, 1.6665 and 1.6765, stop-loss below 1.6465 | |
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