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


Powered by Blogger.

Welcome To Money Grows Network

Verified By

2006 - 2019 ©

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.



Expert In



Technical Analysis of GBP/USD for May 27, 2020:

Technical Market Outlook:

The GBP/USD pair has bounced from the upper channel line and technical support located around the level of 1.2165 and hit the first target zone located at the level of 1.2315. The local high was made at the level of 1.2361, so the bulls are pushing through this zone and are targeting the next level seen at 1.2381. The market conditions are not overbought yet, so the odds for a bounce extension are high. The last swing low and technical support is seen at the level of 1.2072. On the other hand, the nearest technical resistance is located at the level of 1.2246.

Weekly Pivot Points:

WR3 - 1.2499

WR2 - 1.2389

WR1 - 1.2274

Weekly Pivot - 1.2176

WS1 - 1.2057

WS2 - 1.1949

WS3 - 1.1823

Trading Recommendations:

On the GBP/USD pair the main trend is down, but the reversal will be possible when the coronavirus pandemic is tamed. The key long-term technical support has been recently violated (1.1983) and the new one is seen at the level of 1.1404. The key long-term technical resistance is seen at the level of 1.3518. Only if one of these levels is clearly violated, the main trend might reverse (1.3518) or accelerate (1.1404). The market might have done a Double Top pattern at the level of 1.2645, so the price might move lower in the longer-term.


The material has been provided by InstaForex Company -