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



Short-term technical view on GBPUSD.

GBPUSD last week finished trading near the weekly lows. Price pulled back towards our target of the 38% Fibonacci retracement around 1.3670. This was our initial target after price broke out of the bullish channel and after breaking below 1.3745.


Red lines- bullish channel

Black lines- Fibonacci retracements

GBPUSD has reached the first important Fibonacci support level. Failure to hold above it will lead price to another move lower towards the 50% or even the 61.8% retracement level. Short-term trend remains bearish. Our most probable scenario is that price bounces at the start of the week but continues lower after forming a lower high. Breaking below 1.3670 will bring fast more sellers in the market.

The material has been provided by InstaForex Company -