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 March 6, 2015

gbpusdh4.png

Overview :



  • The GBP/USD pair is going to move between the levels of 1.5310 and 1.5205. Additionally, the pair will probably go down because the downward trend is still strong. The resistance is set at the level of 1.5321 which coincides with the ratio of 61.8% of Fibonacci retracement levels on H4 chart. Consequently, the market will indicate a bearish opportunity below 1.5321 again, because the level of 1.5321 is going to act as strong resistance today. Accordingly, it will be a good idea to sell below this level today with the first target at 1.52550 in order to test the daily pivot point and continues further down to the levels of 1.5215 and 1.5180. Moreover, if the trend succeeds to close below 1.5215/1.5180, then the market will be developing in a downtrend below the weekly support level towards the level of 1.5153. However, the stop loss should be placed above 1.5321 at the price of 1.5350.


Intraday technical levels :


Date:6/03/2015



  • R3: 1.5323

  • R2: 1.5296

  • R1: 1.5268

  • PP: 1.5241

  • S1: 1.5213

  • S2: 1.5186

  • S3: 1.5158


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