GBP/USD Faces Strong Resistance Around 1.4250, Break Above Targets 1.4320/1.4360

GBP/USD Faces Strong Resistance Around 1.4250, Break Above Targets 1.4320/1.4360

4 April 2016, 12:54
Roberto Jacobs
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GBP/USD Faces Strong Resistance Around 1.4250, Break Above Targets 1.4320/1.4360

  • Candle stick Pattern Formed- Hammer 
  • Potential Reversal Zone (PRZ) – 1.4250 
  • The pair has recovered after making a low of 1.4170 level. It is currently trading around 1.42286. 
  • On the higher side major resistance is around 1.4250 and any indicative break above will take the pair 1.4320/1.4360 ins short term. 
  • Cable minor support is around 1.4170 and break below targets 1.4150/1.4100. Short term trend reversal only below 1.4050. 

It is good to buy above 1.42500 with SL around 1.4200 for the TP of 1.4320/1.4360/1.4380

The material has been provided by InstaForex Company - www.instaforex.com

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