Trading news

GBP/USD is proceeding higher with a strong momentum

Our previous GBPUSD predictions came true, though after a bigger pullback and the pair has made a strong bounce to the upside. Again, fears of Brexit diminished and the pound has been bought on dips.
Today's Second Estimate GDP came as expected and it is important because it measures a change in the inflation-adjusted value of all goods and services produced by the economy. Technically GBPUSD has made a form of ascending scallop pattern. POC (DPP, L3, 61.8, double top breakout) comes within 1.4660-70 zone and pullbacks toward the zone could be used for long trades. The targets are 1.4740 and 1.4770. If the pair breaks 1.4770 with a strong momentum or we see a 4h close above it, next target is 1.4825.

Thursday, 26 May, 2016 / 11:35

Note: Company News is a promotional service of the Directory and the content isn't created by Finance Magnates.

Source : http://www.admiralmarkets.com/analytics/technical-analysis/gbp-usd-is-proceeding-higher-with-a-strong-momentum

Trading news

 

Markets drift sideways as US stimulus deal awaited

  US stimulus deal edges closer as talks continue, investors hold [...]

Posted on Friday, 23 Oct, 2020 / 10:08 under

Roller-coaster ride on the DAX – DAX 30 Market Outlook – 23/10/2020

Roller-coaster ride on the Dax-30, testing September lows before ending [...]

Posted on Friday, 23 Oct, 2020 / 7:53 under

OIL remains under pressure by surging COVID-19 cases and further lockdowns – US OIL Market Outlook – 23/10/2020

Comments out of President Putin, saying that Russia has not ruled out the [...]

Posted on Friday, 23 Oct, 2020 / 7:52 under