Daily analysis of GBP/USD for May 25, 2017
Updated
GBP/USD is finding support around 1.2928 following the FOMC minutes' release, as the US dollar went under selling pressure across the board. A consolidation below the 200 SMA on the H1 chart is happening and we can expect a testing of the resistance level of 1.2992, as the bears are losing steam. MACD indicator remains to favor the downside scenario.
H1 chart's resistance levels: 1.2992 / 1.3038
H1 chart's support levels: 1.2928 / 1.2872
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 1.2992, take profit is at 1.3038 and stop loss is at 1.2945.
H1 chart's resistance levels: 1.2992 / 1.3038
H1 chart's support levels: 1.2928 / 1.2872
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 1.2992, take profit is at 1.3038 and stop loss is at 1.2945.
Trade active
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.