GBP/USD Analysis
Comments:
Resistance at 1.5260 may be the next level for market to break, otherwise still there is an indication for securing a short position in market.
Lets wait for london session to open before taking any position today. There are certain levels to be broken before a decision for any position, Lets look at the bollinger, which indicates a mix views, MACD still in our opinion can give a false reading today, RSI is at a point from where it has turned several times, but still there is a risk.
For confirmation, follow the following levels,
1.5216
1.5180
1.5170
1.5160
1.5145
1.5030
These are the levels for downside market, but the the level of 1.5170 need to be broken, in order to confirm the selling position till 1.5140.
If market moves upside and breaks 1.5260 then it is expected to go 1.5300.
We will update the strategies after 1 hour according to the situation prevails in market, Keep visiting our blog and scroll todays Comments on this post.
For further discussion contact us at
+923432565293 (available on Whatsapp and Viber)
+923323691889 (rk.khatri@hotmail.com)
Market is going to test 5180, you may go short till 5180
ReplyDeleteFor accurate decision for Upward or Downward, Let market break the levels, Presented above and sustain the direction, Patience is the key to success :)
ReplyDeleteAs USD data is expected not to be good today as well, If data is not favorable today then pound will rally up.
ReplyDeleteRight now wait for USD data, If market breaks the PIVOT point then it will go down.
Bulls and Bears are in equal strength that's why the market is entering in turbulence
ReplyDeleteFinally market has filled the gap, and acted upon our suggestion that, if market breaks the 1.5260 it may go 1.5300. The market has tested it new resistance at 1.5325
ReplyDelete