GBP/USD: technical analysis

GBP/USD, D1

On the daily chart, the pair is growing along the upper border of Bollinger Bands. The price range is widened, which reflects the possibility of the upward trend development. MACD histogram is in the positive zone, keeping the steady signal to open long positions. Stochastic is in the neutral zone near the border of the overbought zone, the signal line is pointed upwards, after the crossing of the border the sell signal will be received.

GBP/USD, H4

On the 4-hour chart, the growth of the pair has slowed, but the restoration of the upward movement is highly possible, the instrument is trading around the upper border of Bollinger Bands. MACD histogram is in the positive zone, keeping the signal to open long positions. Stochastic has left the overbought area and formed a signal to open short positions.

Key levels

Resistance levels: 1.3825, 1.3850, 1.3900.

Support levels: 1.3750, 1.3660, 1.3600, 1.3515, 1.3450, 1.3400.

Trading tips

Long positions can be opened at the current level with the target at 1.3850 and stop loss 1.3750. Implementation period: 1–3 days.

Short positions can be opened at the level of 1.3750 with the target at 1.3660. Stop loss is 1.3790. Implementation period: 3–5 days.

Great Britan vs US Dollar

Buy Sell Spread
1.37639 1.37611 28

Scenario

Timeframe Day’s Range
Recommendations BUY
Entry Point 1.3782
Take Profit 1.3850
Stop Loss 1.3750
Support levels 1.3400, 1.3450, 1.3515, 1.3600, 1.3660, 1.3750, 1.3825, 1.3850, 1.3900

Alternative scenario

Recommendations SELL STOP
Entry Point 1.3750
Take Profit 1.3660
Stop Loss 1.3790
Support levels 1.3400, 1.3450, 1.3515, 1.3600, 1.3660, 1.3750, 1.3825, 1.3850, 1.3900

GBP/USD: technical analysis

The material published on this page is produced by the Claws&Horns Company and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC; furthermore it has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on dealing ahead of the dissemination of investment research.

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