Forex Technical Analysis of GBPUSD for November 09, 2015 | Forex Signals Market
Sunday, November 08, 2015

Forex Technical Analysis of GBPUSD for November 09, 2015

Support                             -   S1 : 1.4980 | S2 : 1.4907 | S3 : 1.4788
Resistance                         -   R1 : 1.5173 | R2 : 1.5292 | R3 : 1.5366
Main Trend                       -   Bearish
Intraday Trend                 -   Bearish

You can observe on the 4H chart of forex technical analysis that the price break downward Andrew's Pitchfork and is moving below of the lower channel. After the strong downward movement on Friday EMA(50) and EMA(200) proceed to a downward cross.

Considering all the details from the charts of forex technical analysis we can detect all critical levels and trading targets for H1 and H4 timeframes:

Forex Technical Analysis

4H Chart


The area 1.5175  – 1.5210   is a neutral zone.

Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 1.5240, 1.5300, 1.5345, 1.5395, 1.5435, 1.5496.

Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 1.4985, 1.4900, 1.4830, 1.4800.

1H Chart


The area 1.5060 – 1.5075  is a neutral zone.

Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 1.5130, 1.5180, 1.5200, 1.5260, 1.5300.
Forex Technical Analysis

Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 1.5000, 1.4920, 1.4870, 1.4815.

There is a Bullish Harmonic Pattern on Daily chart: .886xAB=CD.

Using the above elements of forex technical analysis, everyone can plan his own personal forex trading strategy. We note the need to use stop-loss levels.

You agree with our estimates? If you have another point of view, you can write your opinion in comments.

You can subscribe to one of the two subscription packages and take advantage of all benefits of the forex signals using one of the most sophisticated Forex Signals Copier, also from monitoring the live trading room, and of course from the full support in real time.

No comments: