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*

Trading Signal for GBP/USD for August 27 - 30, 2021: Buy above 1.3700 (EMA 200)

analytics6128f07463567.jpg

According to a 1-hour chart, GBP/USD is trading within an uptrend channel above the 21 SMA and the 200 EMA located at 1.3690. There is immediate resistance at 1.3732. So we believe there could be a correction up to the bullish channel support around 1.3685.

The British pound remains above the 0/8 murray line located at 1.3671. This level has become strong support for the pair. Therefore, a technical bounce at this level could be a good opportunity to buy.

As long as the GBP / USD pair remains above the 200 EMA located at 1.3690, the bullish outlook remains preferable. Hence, a bounce off this level suggests a good opportunity to buy with targets at 1.3730 and 1.3793 level of 2/8 Murray.

Investors are cautious ahead of Fed Chairman Jerome Powell's speech at the Jackson Hole Symposium. Without a doubt, in a few hours there could be strong volatility for the GBP / USD pair.

It is better to wait for the market to digest the data and take a course, before opening any trading positions. It would not be wise to risk our capital because the currency market will always give us good trading opportunities.

Therefore, the key point is to buy the GBP / USD pair, if it makes a technical bounce off 1.3685 or if it falls to the 0/8 murray support located at 1.3671 with targets at 1.3730 and 1.3793. The eagle indicator that measures the strength of the market is showing a bullish signal.

Support and Resistance Levels for August 27 - 30, 2021

Resistance (3) 1.3824

Resistance (2) 1.3795

Resistance (1) 1.3746

----------------------------

Support (1) 1.3700

Support (2) 1.3668

Support (3) 1.3639

***********************************************************

Trading tip for GBP/USD for August 27 - 30, 2021

Buy above EMA 200 at 1.3705 with take profit at 1.3730 and 1.3793 (2/8), stop loss below 1.3655.

Buy if the pair rebounds at 1.3685 with take profit at 1.3730 and 1.3793 (2/8), stop loss below 1.3635.

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