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Terms & Conditions
GBP/USD, D1
On the daily chart, the pair is growing towards the upper line of Bollinger Bands. The price remains below the EMA65, EMA130 and SMA200 that are directed down. The RSI is growing as it failed its longer MA. The Composite is testing its longer MA.
GBP/USD, H4
On the 4-hour chart, the pair is trading above the upper line of Bollinger Bands. The price remains above its moving averages that are horizontal. The RSI is approaching the border of the overbought zone. The Composite is approaching its end of August resistance.
Key levels
Support levels: 1.3058 (local lows), 1.2870 (August lows), 1.2796 (June lows).
Resistance levels: 1.3292 (August highs), 1.3429 (end of June gap), 1.3672 (active trade).
Trading tips
The pair seems to be continuing forming a “triangle” pattern. There is a chance of a downward reverse near its upper border.
Short positions can be opened after the price rebound from the level of 1.3292 with the target at 1.3068 and stop-loss at 1.3372. Validity – 3-4 days.
Long positions can be opened from the level of 1.3429 with the target at 1.3652 and stop-loss at 1.3360. Validity – 3-4 days.
2016-09-01 11:35 (GMT+2) GBP/USD
GBP/USD, D1
On the daily chart, the pair is growing towards the upper line of Bollinger Bands. The price remains below the EMA65, EMA130 and SMA200 that are directed down. The RSI is growing as it failed its longer MA. The Composite is testing its longer MA.
GBP/USD, H4
On the 4-hour chart, the pair is trading above the upper line of Bollinger Bands. The price remains above its moving averages that are horizontal. The RSI is approaching the border of the overbought zone. The Composite is approaching its end of August resistance.
Key levels
Support levels: 1.3058 (local lows), 1.2870 (August lows), 1.2796 (June lows).
Resistance levels: 1.3292 (August highs), 1.3429 (end of June gap), 1.3672 (active trade).
Trading tips
The pair seems to be continuing forming a “triangle” pattern. There is a chance of a downward reverse near its upper border.
Short positions can be opened after the price rebound from the level of 1.3292 with the target at 1.3068 and stop-loss at 1.3372. Validity – 3-4 days.
Long positions can be opened from the level of 1.3429 with the target at 1.3652 and stop-loss at 1.3360. Validity – 3-4 days.
Scenario
Timeframe | Weekly |
Recommendation | SELL LIMIT |
Entry Point | 1.3292 |
Take Profit | 1.3068 |
Stop Loss | 1.3372 |
Key Levels | 1.2796, 1.2870, 1.3058, 1.3292, 1.3429, 1.3672 |
Alternative scenario
Recommendation | BUY STOP |
Entry Point | 1.3429 |
Take Profit | 1.3652 |
Stop Loss | 1.3360 |
Key Levels | 1.2796, 1.2870, 1.3058, 1.3292, 1.3429, 1.3672 |
with
M Samer Al Reifae
Official HiWayFX Representative in Romania
samer@hiwayfx.com
+40 734 277 757
Official HiWayFX Representative in Romania
samer@hiwayfx.com
+40 734 277 757
- YOU WILL NEVER TRADE ALONE -
YOU SHOULD NOT TAKE ANY MATERIAL posted on this BLOG AS RECOMMENDATIONS
TO BUY OR SELL GOLD OR ANY OTHER INVESTMENT VEHICLE LISTED.
TO BUY OR SELL GOLD OR ANY OTHER INVESTMENT VEHICLE LISTED.
Do your own due diligence.
No one knows tomorrow's price or circumstance.
I intend to portray my thoughts and ideas on the subject which may s be used as a tool for the reader.
I do not accept responsibility for being incorrect in my speculations on market trend.
I intend to portray my thoughts and ideas on the subject which may s be used as a tool for the reader.
I do not accept responsibility for being incorrect in my speculations on market trend.