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Daily technical analysis of GBP/USD By INSTAFOREX

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  #1  
Old 14-04-2017, 13:31
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Default Daily technical analysis of GBP/USD By INSTAFOREX

Recently, the GBP/USD has been trading sideways at the price of 1.2530. According to the 1H time frame, I found a broken broken upward trendline, which is a sign that buying looks risky. I found a hidden bearish divergence on the moving average oscilator, which is another sign of weakness. My advice is to watch for potetnial selling opportunities. The downward target is set at the price of 1.2375.

Trading recommendations for today:
watch for potential selling opportunities.




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  #2  
Old 07-07-2017, 20:16
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Default Re: Daily technical analysis of GBP/USD By INSTAFOREX

Analysis of wave counting:
In general, it is expected that during the yesterday's trading, the pair GBP / USD continued to develop an upward movement and it was able to work out the mark of 1,2980 in the middle of the day. The resulting wave situation allows us to assume that the currency pair remained in the stage of formation of the waves b, b, C, and (C); which can also take a much more complicated form. At the same time, it should be noted that there are no significant obstacles to the resumption of the growth of quotations and the confirmation by the currency pair of the beginning of the formation of the waves c, b, C, and (C).

General conclusions and trading recommendations:
The British currency completed the construction of the waves a, C, and (C). At the moment, the quotations are expected to decrease within the limits of waves b, b, C, and (C); with targets located near the marks of 1,2883 and 1,2784, which corresponds to 23.6% and 38.2% by Fibonacci. After the completion of this wave, it is possible to resume the increase in quotations within the waves c, b, C, and (C) with targets above 31 figures.




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  #3  
Old 21-07-2017, 17:22
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Default Re: Daily technical analysis of GBP/USD By INSTAFOREX

Analysis of wave counting:
In general, it is expected that during the yesterday's trading, the pair GBP / USD continued to develop a downward correction and stopped at the level of 1.2930 in the middle of the day. In this case, as a result of this decrease, the internal wave structure of the second wave, in the 3rd, 5th, 3rd, or C, took a completely completed form. If this is so, then practically from the minimum of the past day, the currency pair will resume the growth of quotations and thus signify the beginning of the third wave, in the 3rd, 5th, 3rd, or C.

General conclusions and trading recommendations:
The British currency has again undergone making adjustments to wave counting. At the moment, the quotations are expected to increase within wave 3, 5, 3 or C, with targets near the mark of 1.3148, which corresponds to 76.4% of Fibonacci, and above about 32 figures. Within the limits of the correctional wave 2, 3, 5, 3 or C, the quotations continue to move away from the reached maximum to the area of 30 and 29 figures.





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Old 04-08-2017, 17:32
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Default Re: Daily technical analysis of GBP/USD By INSTAFOREX

GBP/USD plummeted following BoE's decision to keep rates unchanged. The pair is now trading under pressure around the 200 SMA zone at H1 chart and it could provide some kind of dynamic support. However, as long as the bears keep active in the Sterling, one could expect another decline to test the 1.3058 level.

H1 chart's resistance levels: 1.3257 / 1.3364
H1 chart's support levels: 1.3129 / 1.3058
Trading recommendations for today: Based on the H1 chart, buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.3257, take profit is at 1.3364 and stop loss is at 1.3154.




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  #5  
Old 10-08-2017, 23:54
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Default Re: Daily technical analysis of GBP/USD By INSTAFOREX

Recently, the EUR/USD has been trading sideways at the price of 1.3000. The price met our target at 1.2950 and then rejected. Anyway, according to the 30M time frame, I found a trading range between the price of 1.3015 (resistance) and the price of 1.2950 (support). Since the price is testing the resistance at the moment, my advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.2950 and 1.2900. The short - term trend is about to change from bullish to bearish.

Trading recommendations for today: watch for potential selling opportunities.




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  #6  
Old 11-08-2017, 14:45
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Default Re: Daily technical analysis of GBP/USD By INSTAFOREX

Recently, the GBP/USD has been sideways at the price of 1.2975. Anyway, according to the 30M time frame, I found that price is testing a supply trendline, which is a sign that buying looks risky. I also found a downward channel and my advice is to watch for potential selling opportuntiies. The downward targets are set at the price of 1.2950 and 1.2910. The short term trend is bearish.

Trading recommendations for today: watch for potential selling opportunities.




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  #7  
Old 18-08-2017, 17:55
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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 1.2875. Anyway, according to the 15M time frame, I found a fake breakout of resistance cluster and yesterday's high at 1.2910, which is a sign that buyers got trapped and sellers took control. The RSI oscilator showed a hidden bearish divergence, which is another sign that sellers are in control. My advice is to watch for potential selling opportuntiies. The downwards targets are set at 1.2845 and 1.2810.

Trading recommendations for today: watch for potential selling opportunities.




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  #8  
Old 25-08-2017, 13:15
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Default Re: Daily technical analysis of GBP/USD By INSTAFOREX

Recently, the GBP/USD has been trading upwards. The price tested the level of 1.2840. Anyway, according to the 30M time frame, I found fake breakout of 2-day high and weakness in the background, which is a sign that buying looks risky. The weekly average 240SMA is also on the test. There is also an evening star formation, which is another bearish sign. My advice is to watch for potential selling opportunities. The downward target is set at the price of 1.2780.

Trading recommendations for today: watch for potential selling opportunities.




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  #9  
Old 01-09-2017, 10:11
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Default Re: Daily technical analysis of GBP/USD By INSTAFOREX

The pair still remains in a corrective mode since August 29 and looks forward to testing the support level of 1.2842. Around that area, buyers could appear for a rebound that make a breakout of the latest swing high and if that happens, we expect the price to reach the resistance zone of 1.3013, which should also strengthen the bullish scenario.

H1 chart's resistance levels: 1.2958 / 1.3013
H1 chart's support levels: 1.2842 / 1.2761

Trading recommendations for today:
Based on the H1 chart, buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.2958, take profit is at 1.3013 and stop loss is at 1.2903.




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  #10  
Old 01-09-2017, 10:17
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Default Re: Daily technical analysis of GBP/USD By INSTAFOREX

Last week, the GBPUSD pair tested the monthly control zone of August at 1.2797-1.2746, which led to an increase in demand and the formation of a corrective movement towards the last drop in the exchange rate. By the end of this week, there was no formation of an upward reversal, while the probability of a return within the monthly short-term remains high.

Medium-term plan.
Today, the pair is in the process of forming a correctional model for the August fall. In order to resume the downfall, it is necessary to maintain the price at the current levels as the trading closes this week. In this case, the next target decline will be the NCI 1/2 1.2731-1.2715. In order for the growth to continue, it will be necessary to update the weekly maximum and consolidate above it. This will enable the growth of the weekly short-term peak 1.3142-1.3109.




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  #11  
Old 07-09-2017, 15:39
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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 1.3064. Anyway, the price was rejected to go back into a trading range, which is a sign that selling looks risky and that buyers are in control on the market. The short-term trend is bullish and my advice is to watch for potential buying opportunities. The upward targets are set at the price of 1.3100 and 1.3150.

Trading recommendations for today: watch for potential buying opportunities.




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  #12  
Old 15-09-2017, 17:51
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Default Re: Daily technical analysis of GBP/USD By INSTAFOREX

Analysis of wave counting:
During yesterday's European session, the GBP / USD pair started with a downward movement and having lost more than 140 pp from the high of the day, the 1.3185 benchmark closed before the close of US trading. At the same time, it can be assumed that, as a result of this price, the currency pair has been completed in the third, in the 5th, . If this is the case, then from the low of the past day, or slightly lower than the level of the 34th figure.

General conclusions and trading recommendations:
Wave counting has undergone some changes in connection with the breakdown of the level of 1.3270. The increase in prices may be with the targets near the estimated level of 1.3336, which corresponds to 300.0% of Fibonacci, and above, about 34 figures, within 3, at 5, at 5, at 3 (or C). Within the limits of the correction wave 4, the decline began with targets near the marks of 1,3168 and 1,3118, which corresponds to 38.2% and 50.0% of Fibonacci.




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  #13  
Old 15-09-2017, 18:03
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Default Re: Daily technical analysis of GBP/USD By INSTAFOREX

Recently, the GBP/USD pair has been trading upwards. The price tested the level of 1.3337 in an ultra high volume. According to the 30M time frame, I found extension in an average true range and a fake breakout of yesterday's high at the price of 1.3329, which is a sign of weakness. My advice is to watch for potential selling opportunities. I placed Fibonacci retracement levels to find potential downward targets. I got FR 38.2% at the price of 1.3270, FR 50% at the price of 1.3250 and FR 61.8% at the price of 1.3225.

Trading recommendations for today: watch for potential selling opportunities.




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  #14  
Old 19-09-2017, 23:17
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Default Re: Daily technical analysis of GBP/USD By INSTAFOREX

Recently, the GBP/USD pair has been trading downwards. As I expected, the price tested the level of 1.3468. Anyway, there is a support level at the price of 1.3465 and selling at this stage looks risky. There is also a bullish divergence on the moving average osiclator, which is another sign of strength. My advice is to watch for potential buying opportunities. The upward targets are set at the price of 1.3552 and 1.3610.

Resistance levels:
R1: 1.3526
R2: 1.3540
R3: 1.3554
Support levels:
S1: 1.3500
S2: 1.3485
S3: 1.3475




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  #15  
Old 22-09-2017, 01:01
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Default Re: Daily technical analysis of GBP/USD By INSTAFOREX

Recently, the GBP/USD pair has been trading downwards. As I expected, the price tested the level of 1.3451 in an ultra high volume. According to the 30M time frame, I found a selling climax in the background and weak selling today, which is a sign that selling looks risky. I found a breakout of the overnight trading range, which is another sign of potential strength. My advice is to watch for potential buying opportunities. The upward targets are set at the price of 1.3530, 1.3555, and 1.3575. All targets are based on Fibonacci work.

Trading recommendations for today: watch for potential buying opportunities.




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  #16  
Old 22-09-2017, 15:05
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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 1.3570. Anyway, according to the 30M time frame, I found a fake breakout yesterday's high at the price of 1.3586, which is a sign that buying looks risky. There is a downward breakout of the Asia session's trading range, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.3475 and 1.3455.

Trading recommendations for today: watch for potential selling opportunities.




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  #17  
Old 04-10-2017, 18:56
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Default Re: Daily technical analysis of GBP/USD By INSTAFOREX

Recently, the EUR/USD pair has been trading upwards. The price tested the level of 1.3287. Anyway, according to the 30M time- frame, I found a successful re-test of yesterday's high at the price of 1.3287. There is a hidden bearish divergence on the moving average oscilaotr, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.3245 and 1.3220.

Trading recommendations for today: watch for potential selling opportunities.




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  #18  
Old 06-10-2017, 16:42
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Default Re: Daily technical analysis of GBP/USD By INSTAFOREX

Recently, the GBP/USD pair has been trading downwards. As I expected, the price tested the level of 1.3061. According to the 15M time frame, I found a successful breakout of yesterday's low at the price of 1.3017. Most recently, I found a buying climax in the background, which is a sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.3050 and 1.3000.

Trading recommendations for today: watch for potential selling opportunities.




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  #19  
Old 13-10-2017, 13:52
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Default Re: Daily technical analysis of GBP/USD By INSTAFOREX

Recently, the GBP/USD pair has been trading upwards. The price spiked at the level of 1.3320. Anyway, according to the 15M time - frame, I found strong resistance at the prirce of 1.3320, which is a sign that buying at this stage looks risky. There is a hidden bearish divergence on the moving average osiclator, which is another sign of weakness. My advice is to watch for potential selling opportuntiies. Downward targets are set at the price of 1.3250 and 1.3240.

Trading recommendations for today: watch for potential selling opportunities.




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  #20  
Old 17-10-2017, 19:38
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Default Re: Daily technical analysis of GBP/USD By INSTAFOREX

Recently, the Silver has been trading downwards. As expected, the price tested the level of 1.3250. According to the 15M time - frame, I found bearish flag in creation and fake breakout of pivot point at 1.3260. I also found shoting star candle in the background, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.3215 (S1) and at the price of 1.3175 (S2).

Trading recommendations for today:
watch for potential selling opportunities.




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  #21  
Old 20-10-2017, 13:50
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Default Re: Daily technical analysis of GBP/USD By INSTAFOREX

Recently, the GBP/USD has been trading sideways at the price of 1.3180. According to the 15M time - frame, I found that shooting star candle and few doji candles near the pivot level at the price of 1.3170, which is a sign that buying looks risky. The stochastic oscillator is in overbought zone, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.3115 (S1) and 1.3085 (S2).

Trading recommendations for today:
watch for potential selling opportunities.




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  #22  
Old 20-10-2017, 14:06
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Default Re: Daily technical analysis of GBP/USD By INSTAFOREX

Analysis of wave counting:
With the opening of yesterday's trading, the pair GBP / USD made an attempt to resume the downward movement and has already "slid" to the area of 1.3130 by the beginning of the European session. At the same time, it seems that the currency pair still remained in the stage of formation of the first generating waves in the future wave c, in the 4th. If this is the case, the currency pair retains the potential to further lower the quotations in the direction of the level of the 30th figure, corresponding to the first calculated goals of this wave c, in the 4th.

General conclusions and trading recommendations:
The downward wave 4 continues to build in the upward trend section. It is now possible to continue the decline of quotations with targets near the calculated marks of 1.3065 and 1.2882, which corresponds to 38.2% and 50.0% of Fibonacci, within the limits of wave c, 4. The correction wave b, 4, presumably, is completed.




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  #23  
Old 27-10-2017, 19:45
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Default Re: Daily technical analysis of GBP/USD By INSTAFOREX

Analysis of wave counting:
Without testing the level of the 33rd figure, at the beginning of yesterday's European session, the GBP / USD pair resumed the decline of quotes, having lost more than 110 pp and worked the mark of 1.3150 at the end of the day. At the same time, it can be assumed that the currency pair remained in the formative stage of an incomplete horizontal correction of the internal wave structure of wave b, 4th. If this is so, then the completion of this wave b, 4th, will lead to the resumption of the development of the downward movement, which in turn, will designate the beginning of the future wave c, 4th.

General conclusions and trading recommendations:
The downward wave 4 continues to build in the upward trend section. It is now possible to reduce quotations with targets near the estimated levels of 1.3065 and 1.2882, which corresponds to 38.2% and 50.0% of Fibonacci, within the wave d, b, 4. Within the proposed wave e, b, 4, it is possible to raise with targets, located near the mark of 1.3291, which is equal to 23.6% of Fibonacci.




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  #24  
Old 02-11-2017, 04:17
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Default Re: Daily technical analysis of GBP/USD By INSTAFOREX

Recently, the GBP/USD has been upwards. The price tested the level of 1.3320 in an ultra high volume. Anyway, according to the 15M time - frame, I found a strong sign of weakness and rejection from pivot resistance 1 at the price of 1.3315, which may leady GBP/USD lower. There is also divergence on the stochastic oscillator, which is another sign of weakness. My advice is to watch for potential selling opportunities. Downward targets are set at the price of 1.3220 (Support 1) and at the price of 1.3160 (support 2).

Trading recommendations for today:
watch for potential selling opportunities.




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  #25  
Old 07-11-2017, 12:52
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Default Re: Daily technical analysis of GBP/USD By INSTAFOREX

Recently, the GBP/USD pair has been trading upwards. The price tested the level of 1.3177. Anyway, according to the 15M time - frame, I found a broken upward channel and potential double top formation, which is a sign that buying looks risky. There is also a hidden bearish divergence on the MACD oscillator, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.3096 (pivot support 1) and at the price of 1.3055 (swing low).

Trading recommendations for today: watch for potential selling opportunities.




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  #26  
Old 09-11-2017, 23:56
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Default Re: Daily technical analysis of GBP/USD By INSTAFOREX

Analysis of wave counting:
Yesterday's GBP/USD trades began with a downward movement and, losing about 90 pp, fell to 1.3085 in the afternoon. The resulting wave situation makes it possible assume that the currency pair remained in the stage of formation of the first generating waves in the composition of the third wave, in c, in the 4th wave. If this is the case, wave b, in the 4th, still does not take the form of an even more extensive horizontal correction, thus the currency pair will continue to decline quotations in the direction of the level of the 30th figure.

General conclusions and trading recommendations:
The construction of the downward wave 4 in the upward trend section continues. Now it is possible to lower quotes within targets near the estimated level of 1.2882, which corresponds to 50.0% of Fibonacci, within wave 3, in c, in 4. Wave b, in 4 supposedly completed its construction near the level of 1.3291, which corresponds to 23.6% of Fibonacci.




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  #27  
Old 10-11-2017, 12:54
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Default Re: Daily technical analysis of GBP/USD By INSTAFOREX

Analysis of wave counting:
Rebounding from the 1.3085 mark, in the middle of yesterday's trading, the GBP/USD pair continued to develop the upward movement and, before the close of the American session, was able to add about 80 pp in price. At the same time, it is possible to assume that the currency pair is still in the stage of formation, which significantly complicated its wave structure of the second wave, in the c, in the 4th. If this is the case, wave b, in the 4th, still does not take the form of a more extended horizontal correction, testing the level of the 32nd figure can lead to a price turn in favor of the dollar, which in turn will mark the beginning of the third wave, in c , in the 4th.

General conclusions and trading recommendations:
The construction of the downward wave 4 in the upward trend section continues. Now it is possible to lower quotes with targets near the estimated level of 1.2882, which corresponds to 50.0% of Fibonacci, within wave 3, in c, in 4. Wave b, in 4 supposedly completed its construction near the level of 1.3291, which corresponds to 23.6% of Fibonacci. Within the framework of the correction wave 2, in c, in 4, the pair continues to rise.




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  #28  
Old 14-11-2017, 19:51
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Default Re: Daily technical analysis of GBP/USD By INSTAFOREX

Recently, the GBP/USD has been trading sideways at the price of 1.3104. According to the 15M time frame, I found that price is trading below the pivot level (1.3119), which is a sign that sellers are in control. I also found the successful rejection of supply trendline, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.3060 and at the price of 1.3000.

Trading recommendations for today: watch for potential selling opportunities.




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  #29  
Old 24-11-2017, 01:33
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Default Re: Daily technical analysis of GBP/USD By INSTAFOREX

Recently, the GBP/USD part has been trading upwards. As I expected, the price tested the level of 1.3337. According to the 30M time - frame, I found a successful test of pivot level at the price of 1.3288, which is a sign that selling looks risky. I also found oversold conditions on the stochastic 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 1.3363 (pivot resistance 1) and the price of 1.3400 (pivot resistance 2).

Trading recommendations for today: watch for potential buying opportunities.




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  #30  
Old 24-11-2017, 14:01
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Default Re: Daily technical analysis of GBP/USD By INSTAFOREX

Recently, the GBP/USD has been trading upwards. The price tested the level of 1.3331. According to the 15M time - frame, I found that price broke falling wedge, which is a sign that buyers are in control. I also found an oversold stochastic 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 1.3335 (pivot resistance 1) and at the price of 1.3362.

Trading recommendations for today: watch for potential buying opportunities.




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  #31  
Old 01-12-2017, 17:20
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Default Re: Daily technical analysis of GBP/USD By INSTAFOREX

Recently, GBP/USD is trading downwards. The price tested the level of 1.3456. Anyway, according to the 15M time frame, I found a hidden bullish divergence on the stochastic oscillator in creation, which is a sign that selling looks risky. I also found a strong pinbar in the background, which sugests strength. My advice is to watch for potential buying opportunities. Upward targets are set at the price of 1.3510 and at the price of 1.3540.

Trading recommendations for today: watch for potential buying opportunities.




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  #32  
Old 07-12-2017, 22:18
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Default Re: Daily technical analysis of GBP/USD By INSTAFOREX

Recently, GBP/USD has been trading downwards. The price tested the level of 1.3319. Anyway, according to the 1H timeframe, I found a strong rejection from the lower diagonal of the downward channel, which is a sign that selling looks risky. I also found a hidden bullish divergence on the moving average 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 1.3422 and 1.3540.

Trading recommendations for today:
watch for potential buying opportunities.




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  #33  
Old 08-12-2017, 18:33
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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 1.3403. According to the 30M time frame, I found that price broke the pivot level at 1.3426, which is a sign that sellers are in control. I also found a broken upward trendline in the background, which is another sign of weakness. My advice is to watch for potetnial selling opportunities. The downward targets are set at the price of 1.3370 (pivot support 1) and at the price of 1.3260 (pivot support 2).

Trading recommendations for today: watch for potential selling opportunities.




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  #34  
Old 14-12-2017, 16:50
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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 1.3350. According to the 15M time frame, I found successful rejection from the pivot resistance 1 at the price of 1.3365. I also found a simmetrical triangle in creation together with hidden bearish divergence on the stochastic oscillator, which is a sign that buying looks risky. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.3303, 1.3287 and at the price of 1.3255.

Trading recommendations for today:
watch for potential selling opportunities.




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  #35  
Old 19-12-2017, 20:13
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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 1.3372. According to the 15M time - frame, I found a broken intraday bearish flag in the background, which is a sign that buying looks risky. I also found overbought conditions on the stochastic oscillator. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.3320 (pivot support 1) and at the price of 1.3255 (pivot support 2).

Trading recommendations for today: watch for potential selling opportunities.




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  #36  
Old 22-12-2017, 15:41
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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 1.3339. According to the 4H time frame, I found a broken upward trendline and descending triangle in creation, which is a sign that buying looks risky. My advice is to watch for potential selling opportunities. The first downward target is set at the price of 1.1305. Anyway, if the price breaks the level of 1.1300, it will confirm a potential larger downward movement (descending triangle confirrmation). In that case the downward target will be set at the price of 1.3070.

Trading recommendations for today:
watch for potential selling opportunities.




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  #37  
Old 29-12-2017, 18:30
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Default Re: Daily technical analysis of GBP/USD By INSTAFOREX

Recently, the GBP/USD pair has been trading upwards. The price tested the level of 1.3528. According to the 4H time frame, I found that the symmetrical tiangle is broken and that selling looks risky. My advice is to watch for potential buying opportunities. The upward targets are set at the price of 1.3550 and at the price of 1.3690 (pattern projection).

Trading recommendations for today: watch for potential buying opportunities.




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  #38  
Old 02-01-2018, 18:34
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Default Re: Daily technical analysis of GBP/USD By INSTAFOREX

Recently, the GBP/USD pair has been trading upwards. The price tested the level of 1.3566 . According to the 30M time frame, I found a breakout of the previous high at the price of 1.3543, which is a sign that selling looks risky. The trend is bullish and my advice is to watch for potential buying opportunities. I have placed Fibonacci expansion to find potential upward targets. I got FE 61.8% at the price of 1.3582 and FE 100% at price of 1.3610.

Trading recommendations for today:
watch for potential buying opportunities.




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  #39  
Old 05-01-2018, 20:01
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Default Re: Daily technical analysis of GBP/USD By INSTAFOREX

Recently, the EUR/USD pair has been trading sideways at the price of 1.2050. According to the 30M time frame, I found an oversold stochastic oscillator, which is a sign that selling looks risky. The short-term trend is still bullish. I also found a supply trendline in the background, and my advice is to watch for potential bullish breakout to confirm further upward price. The upward targets are set at the price of 1.2100 (pivot resistance 1) and at the price of 1.2137 (pivot resistance 2).

Trading recommendations for today: watch for potential buying opportunities.




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  #40  
Old 10-01-2018, 04:50
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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 1.3513. Anyway, according to the 30M time frame, I found a fake breakout of yesterday's low at the price of 1.3523, which is a sign that selling looks risky. I also found a piercing pattern, which is another sign of strength. My advice is to watch for potential buying opportunities. The upward targets are set at 1.3555 and 1.3580.

Trading recommendations for today: watch for potential buying opportunities.




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