GBP/USD Technical Analysis /05.08.2013/ MBCFX

 GBP/USD Technical Analysis /05.08.2013/ MBCFX

. The GBP/USD is trading within an ascending channel as we notice on the daily chart, as the trading of the beginning of this week closed on a Shooting Star which reflects the shift of the trend from bullish to bearish. And according to that the GBP/USD retreated to the expected targets.

We also expect a further decline, and the next target will be towards the Fibonacci level 38.2 %  , which corresponds to the Moving Average  100  at 1.5408, then 1.5380, which would represent good opportunities to buy on the short term trading for the daily traders.

Concerning the average term traders, we draw the attention of  our dear traders that the general trend of the pound is bearish, and we expect to reach the expected target of 1.5336 level .  

For the rest of the technical analysis and to know the next target of this pair and other currencies.

Register Now on our website:

 And start receiving:

Real time alerts,

When to buy and sell,

Take profit and stop loss.

Daily Technical  and Fundamental Analysis.

Also the economic calendar and the major events to watch

For more info please contact us at :

MBCFX Forex & CFDs Brokerage Firm