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*

Technical analysis of GBP/USD for October 26, 2015

The weekly technical analysis of GBP/USD pair:

gbpusd_pp.jpg

Trading recommendation:

  • According to the previous events, the GBP/USD is still moving between 1.5375 and 1.5242. The level of 1.5375 represents strong resistance. Also, it should be noted that the level of 1.5382 is coinciding with the ratio of 38.2% Fibonacci retracement levels. The minor support is found at the level of 1.5305. Consequently, we expect a range about 133 pips (1.5375 - 1.5242) in coming two days. Therefore, the market is going to call for a downtrend from the level of 1.5370. Sell below the level of 1.5370 in the long term with the first target at 1.5305, it might resume to 1.5250.

Notes:

  • Major support is seen at 1.5242.
  • The level of 1.5375 represents the weekly pivot point.
  • Major resistance is seen at the level of 1.5382.
  • According to our statistics, the range was between 220 and 300 pips, and the average range was around 260 pips.
GBPUSDH1.png
The material has been provided by InstaForex Company - www.instaforex.com