MG Network

our website isOn Vacation

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 24, 2021

Technical Market Outlook:

The GBP/USD pair has made a new swing high at the level of 1.4232, but the rally ended with a Pin Bar candlestick pattern, so the pull-back might be on the way soon. The technical support is seen at the level of 1.4077 and if violated, then a down cycle might extend towards the level of 1.4000. For now the bears have manage to retrace 38% of the last swing up and are trying to bounce from the level of 1.4145 towards 1.4165. The momentum remains neutral in slightly overbought market conditions.

Weekly Pivot Points:

WR3 - 1.4370

WR2 - 1.4303

WR1 - 1.4219

Weekly Pivot - 1.4140

WS1 - 1.4061

WS2 - 1.3988

WS3 - 1.3910

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).

analytics60ab533befac1.jpg

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