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Daily technical analysis of GBP/USD By INSTAFOREX

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  #41  
Old 11-01-2018, 05:11
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Default Re: Daily technical analysis of GBP/USD By INSTAFOREX

Recently, the GBP/USD pair has been trading downwards. The price tested the level of 1.3481. Anyway, according to the 1H time frame, I found a fake breakout of the support cluster, which is a sign that selling looks risky. I also found a hidden bullish divergence on the moving average oscillator and bullish outside bar, which is a sign of strength. My advice is to watch for potential buying opportunities. The upwad targets are set at the price of 1.3580 and at the price of 1.3610,

Trading recommendations for today: watch for potential buying opportunities.




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  #42  
Old 16-01-2018, 17:07
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Default Re: Daily technical analysis of GBP/USD By INSTAFOREX

Recently, the GBP/USD has been trading downwards. As I expected, the price tested the level of 1.3744. According to the 30M time frame, I found a broken 3-day upward channel, which is a sign that buying looks risky and that sellers are in control. I also found a broken upward trendline and a hidden bearish divergence on the moving average oscillator, which are signs of weakness. My advice is to watch for potential selling opportunities. I placed Fibonacci retracement to find potential downward targets. I got FR 38.2% at the price of 1.380, FR 50% at the price of 1.3640 and FE 61.8% at the price of 1.3600.

Trading recommendations for today: watch for potential selling opportunities.




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  #43  
Old 17-01-2018, 17:42
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Default Re: Daily technical analysis of GBP/USD By INSTAFOREX

Recently, the GBP/USD pair has been trading sideways at the price of 1.3803. According to the 15M time - frame, I found that price rejected of the pivot support at 1.3753, which is a sign that selling looks risky. I also found positive readings on MACD oscillator, which is another sign of strength. My advice is to watch for potential buying opportunities. The upward targets are set at the price of 1.3818, 1.3840 and at the price of 1.3880.

Trading recommendations for today:
watch for potential buying opportunities.




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