GBP/USD Technical Analysis /05.09.2013/ MBCFX
.The GBP/USD has formed
Triple Top on the 4 hours chart, and it has faced a strong barrier at the
Fibonacci level 50 % during 5 days , which reflects downward trend.
So we
expect a bearish trend of the prices to the 1.5404-1.5380 area which
corresponds to the Moving Average 100 and 120, and if it breaches down this
level, it may retreat to the 1.5336 and 1.5290 levels.
So any rally of
the GBP/USD will represent good opportunities to short this pair especially
before the release of the interest rates in UK.
As for the key
resistance level it lays at 1.5560
For the rest of
the technical analysis and to know the next target of this pair and other
currencies.
Register Now on
our website: www.mbcfx.com
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 : info@mbcfx.com
