Support - S1: 1.4839 | S2 : 1.4798 | S3 : 1.4727
Resistance - R1 : 1.4950 | R2 : 1.5021 | R3 : 1.5061
Main Trend - Bearish
Intraday Trend - Bearish
Financial Announcements
AUD - Cash Rate
GBP - BOE's Financial Policy Committee Record of March
Meeting
Utilizing all the possibilities of forex technical analysis in charts for
the exchange rate GBPUSD, we can observe at four hour chart that price moves at
the upper channel of Andrews Pitchfork and between of EMA (50) and EMA (200) by
trying for once more to break upwards the resistance at area 1.4932 – 1.4972. On
the hourly chart is useful to note the upward cross that has become between the
EMA (50) and EMA (200).
Considering all the details of the charts of forex technical analysis we can
detect all critical levels and trading targets for H1 and H4 timeframes.
4H Chart
The area 1.4924 – 1.4896 is a neutral zone.
Bullish scenario : If the price move upwards and close above
the neutral zone, then the upward trading targets will be : 1.4987, 1.5030, 1.5090, 1.5140.
Bearish scenario : If price move downwards and close below
the neutral zone, then the downward trading targets will be: 1.4830, 1.4765, 1.4735, 1.4680.
1H Chart
The area 1.4920 – 1.4906 is a neutral zone.
Bullish scenario : If the price move upwards and close above
the neutral zone, then the upward trading targets will be : 1.4950, 1.4980, 1.5012, 1.5035.
Bearish scenario : If price move downwards and close below
the neutral zone, then the downward trading targets will be: 1.4840, 1.4800, 1.4775, 1.4750.
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.
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