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*

GBPUSD Fundamental Analysis February 24, 2017

GBP/USD broke out of the corrective structure yesterday with a massive impulsive move. Yesterday, GBP gained a good amount of strength after US Unemployment Claims report had some surplus at 244k which was expected to be 242k. Before the US event, GB CBI Realized Sales report was also published at 9 which was expected to be 5. After the events, GBP gained momentum to break above the long-awaited corrective structure resistance at 1.25. Today GBP had the BBA mortgage approvals report, which was forecasted to be 41.9k and came out to be 44.7k. Currently GBP is fundamentally quite strong against the USD and it is expected that if the momentum of GBP remains the same, upwards movements are expected in this pair to reach the resistance 1.2730.

Now let us look at the technical view, currently the price is just above the 1.2550 area, which has turned into support. If today the price remains above 1.2550 with a daily close, it is expected that from next week we can see more bullish moves towards the next resistance at 1.2730. It would be safer to look for buy above the 1.2570 near-term resistance at the point. On the other hand, if the price closes below the support area 1.2515-50, then the corrective structure will continue.

analytics58b022ee73b1d.jpg

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