Northern dynamics, but with a strong resistance based at 1.5817

June 24, 2015

GBP/USD

Daily chart: The price has preserved potential of growth to the upper Bollinger band (1.5950), though the pair is based in the middle of the envelope range and that makes a correction to the middle line (1.5514) possible.

Í4: strong local resistance in the middle Bollinger band (1.5817), from where a decline to 1.5703 can take place.

Í1: the price has broken the upper Bollinger envelope and ADX parameters are strong, which makes growth scenario more probable.

Expectations: growth to 1.5817 and, in case of the upper breakthrough, to 1.5850, with the middle-term target for 100 points above to 1.5950.

Trading decisions:

1) Purchases to 1.5817, 1.5850 and 1.5950 are possible.

2) Also decline from 1.5817 down to 1.57 is possible. We shall check the level if it gives any short signals.

Publication source
FreshForex information  FreshForex reviews

February 24, 2017
Gold surges to major $1250 resistance as uncertainty prevails
Gold surged Thursday on a breakout of its previous consolidation to hit and slightly exceed major technical resistance at $1250, a level not seen since early November...
February 24, 2017
Dollar falls as peso and gold rally
The U.S. dollar was the weakest currency yesterday as surprisingly, the Mexican peso rallied, rising 1.22% over the day against the greenback...
February 23, 2017
U.S. dollar muted to Fed minutes
The U.S. dollar index was flat yesterday after the Federal Reserve published the meeting minutes from the January 31 -February 1 monetary policy meeting...

FX Giants Rating
OANDA Rating
 FXTM Rating
FOREX.com Rating
FXCM Rating
OctaFX Rating

Migesco Rating
EZTrader Rating
Beeoptions Rating
Anyoption Rating
UKoptions Rating
OptionBit Rating