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 May 17, 2021

Technical Market Outlook:

The GBP/USD pair has broken above the 61% Fibonacci retracement level located at 1.4104 and made a new local high at the level of 1.4111. The short term technical support is seen at the level of 1.4076 and the technical resistance is located at the level of 1.4143 and 1.4164 (swing high). Strong and positive momentum supports the short- term bullish outlook for Pound with a target at the last swing high.

Weekly Pivot Points:

WR3 - 1.4356

WR2 - 1.4259

WR1 - 1.4177

Weekly Pivot - 1.4087

WS1 - 1.4011

WS2 - 1.3910

WS3 - 1.3836

Trading Recommendations:

The daily time frame chart show the breakout above the trend line resistance and a new swing high above the recent consolidation zone located around 1.4000. The momentum is strong and positive, so the up trend can be continued towards the next long-term target located at the level of 1.4222 (high from 24.02.2021).

analytics60a214666a2d0.jpg

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