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 November 5, 2014

GBPUSDH1.png

Overview:

  • According to the previous events, the GBP/USD pair is still moving below the golden ratio of the 1.5399 price. So, the pair is representing a minor resistance on the H1 chart. Therefore, sell at the level of 1.5399 with the first target at the 1.5340 price, then it will call for a downtrend in order to continue with its bearish movement towards 1.5290 in order to test this strong support. Besides, the price of 1.5290 is forming a double bottom at the same time frame. Nevertheless, the stop loss should be placed at the level of 1.5435. On the other hand, if the trend fails to close below the level of 1.5290, it will be a good sign to buy at this level in the short term with targets at 1.5350. Then it is going to continue towards the 1.5400 price tomorrow.

Intraday technical levels:

  • Projected high: 1.5562
  • Breakout (buy stop): 1.5435
  • Strong resistance (sell limit): 1.5400
  • Current pivot: 1.5369
  • Strong support (buy limit): 1.5290
  • Breakout (sell stop): 1.5266
  • Projected low: 1.5201
The material has been provided by InstaForex Company - www.instaforex.com