GBP Trading Outlook (24-09-2015)

Medium Term Strategy: Forex Pair of the day
GBP/USD – pulling back
The pair has broken above the 50-days moving average and is currently posting a pull back. Thus, as long as 1.5070 holds on the downside (horizontal support and overlap), further advance is likely with 1.5825 as a first target (August top) and 1.6190 in extension (61.8% retracement of the July 2014 to April down leg). A third target is set at 1.6525 (last September top). Only a break below 1.5070 would turn the outlook to bearish with a first alternative target set at 1.4850 (horizontal support) and a second one set at 1.4560 (horizontal support and April low).
Back to GBP Trading Outlook Archive

join THOUSANDS OF other people
who trade with easymarkets

Two minutes is all it takes.

You're almost there!

Finish your application and start trading today.

DON'T MISS A TRADING OPPORTUNITY

Two minutes is all it takes.