MG Network

something big isHappening!

In the mean time you can connect with us with via:

Copyright © Money Grows Network | Theme By Gooyaabi Templates

Money Grows Network

Archive

Powered by Blogger.

Welcome To Money Grows Network

Verified By

2006 - 2019 © www.moneygrows.net

Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

Popular

Pages

Expert In

Name*


Message*

Daily analysis of GBP/USD for July 06, 2015

The daily chart structure remains pointing to the upside, but GBP/USD is currently doing bearish moves and looking to consolidate below the 200 SMA. While it remains above that zone, we could expect more upside moves, but the short-term picture favors bears and we should be cautious of a possible breakout around 1.5543.

GBPUSDDaily.png

When we watch for a swing lower below the resistance level of 1.5589, we can see bearish consolidation in the H1 chart. However, a breakout to the upside will make GBP/USD to test the resistance zone around the 1.5650. The MACD indicator remains at negative territory, but the corrective moves are going to happen soon.

GBPUSDH1.png

Daily chart's resistance levels: 1.5755 / 1.5898

Daily chart's support levels: 1.5543 / 1.5450

H1 chart's resistance levels: 1.5589 / 1.5650

H1 chart's support levels: 1.5537 / 1.5471

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.5589, take profit is at 1.5650, and stop loss is at 1.5530.

The material has been provided by InstaForex Company - www.instaforex.com