Daily chart: The GBP/USD has made a breakout again in the resistance level of 1.7000, so far, this pair is trying to stay above that level, given that the objective remains the next resistance level of 1.7169 in the medium term. The MACD indicator is entering overbought area.
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H4 chart: This pair has made a breakout at the level of 1.6995 and now, the GBP/USD is trying to climb up to the resistance level of 1.7062. If GBP/USD manages to make a breakout at that level, it would be expected to rise to the level of 1.7200, which is close to a bullish trend line. The MACD indicator is in positive territory. 
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H1 chart: The GBP/USD is trying to stay above the point of control and a few hours ago, this pair found resistance at the 1.7050 level. If GBP/USD manages to make a breakout at that level, it would be expected to rise to the level of 1.7100, which would be a bullish intraday consolidation. The MACD indicator is in negative territory. 
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Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.7050, take profit is at 1.7100, and stop loss is at 1.7000.
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Performed by Felipe Erazo, Analytical expert InstaForex Group © 2007-2014 |
Daily analysis of GBP/USD for June 27, 2014
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