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*

GBP/USD technical analysis for 06/03/2019

Technical market overview:

The GBP/USD pair has hit the technical support zone located between the levels of 1.3100 - 1.3108 in oversold market conditions and despite the weak and negative momentum. The bears have full control over the market as the price is still trading below the trendline (marked in orange) and all of the bounces are shallow (less than 85 pips). In this situation, the bears will continue the move down with occasional upward corrections. The fact, that there is no price or candlestick pattern that would indicate the downtrend reversal support the negative short-term outlook for this pair.

Weekly Pivot Points:

WR3 - 1.3631

WR2 - 1.3485

WR1 - 1.3333

Weekly Pivot - 1.3193

WS1 - 1.3047

WS2 - 1.2894

WS3 - 1.2742

Trading Recommendations:

The second target level for sell orders for daytraders has been hit at 1.3100, so now some kind of a local pull-back is expected. Due to the fact that the trend is still down, only sell orders should be opened on the upwards corrections.

analytics5c7f6bbbb03d4.jpg

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