Trading news

GBP/USD watch for 1.2225-50 zone



The GBP/USD is still sold on rallies as analysed in our previous analysis. Today First Brexit hearing begins in the UK High Court and there could be some whipsaw movements in the currency pair. From technical perspective POC zone comes within 1.2225-50 and the zone is a bit wider due to high ATR. The pair is contained within the equidistant channel and we can spot a confluence of channel top, H3 and bearish order block. If the pair retraces to the zone we might see a rejection towards 1.2150 and 1.2090. Only a 4h close below 1.2090 could tank the pair lower to sub 1.2000 level 1.1990 where we see a confluence of H5 and channel bottom. However if the pair gets above 1.2300 we might see a breakout towards 1.2355 that will be a sign of a deeper retracement in the GBP/USD pair.

Thursday, 13 Oct, 2016 / 11:17

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/

Trading news

 

2020 Olympics & The Japanese Economy

With the 2020 Olympics kicking off after a year-long delay, just how much of a [...]

Posted on Friday, 23 Jul, 2021 / 1:30 under

Fed, Inflation, And The Housing Bubble

Yesterday, the US’ second-largest homebuilder, D.R. Horton, announced [...]

Posted on Friday, 23 Jul, 2021 / 1:28 under

Stormy week ends with US stocks at record highs

  Nasdaq 100 closes at new record as investors warm up to tech [...]

Posted on Friday, 23 Jul, 2021 / 9:25 under