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 December 29, 2020

Technical Market Outlook:

The GBP/USD pair has failed to break through the recent swing high seen at the level of 1.3624 and pulled-back towards the middle of the consolidation zone. The local low during the pull-back was made at the level of 1.3428 and will now act as an intraday support. Nevertheless, the bullish pressure is clear and if the swing high is broken, then the next target is seen at the level of 1.3667 and 1.3708. Please notice, the market conditions are now overbought, so a pull back towards the intraday support located at 1.3515 and 1.3538 is welcome. The momentum remains strong and positive, which supports the short term bullish outlook.

Weekly Pivot Points:

WR3 - 1.4170

WR2 - 1.3890

WR1 - 1.3745

Weekly Pivot - 1.3458

WS1 - 1.3319

WS2 - 1.3039

WS3 - 1.2880

Trading Recommendations:

The GBP/USD pair might have started a long term up trend and the trigger for this trend was the breakout above the level or 1.3518 on the weekly time frame chart. All the local corrections should be used to enter a buy orders as long as the level of 1.2674 is not broken. The long-term target for bulls is seen at the level of 1.4370.

analytics5fead98c1b716.jpg

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