GBP/USD Trade Idea

GBP/USD Trade Idea

13 April 2016, 15:09
Roberto Jacobs
0
6

GBP/USD Trade Idea

  • Major Support – 1.4185 (200 day MA) 
  • Cable has recovered yesterday after making a low of 1.41965 (near 200 HMA) .It is currently trading around 1.42391. 
  • Intraday trend is slightly bullish as long as support 1.4185 holds. 
  • Any break below 1.4185 will drag the pair down till 1.4100/1.4040.Overall bullish invalidation only below 1.4000. 
  • On the higher side resistance is around 1.4280 and break above targets  1.4320/1.4350. 
  • The pair should close above 1.4400 for further upside.

It is good to buy at dips around 1.4240 with SL around 1.4180 for the TP of 1.4320/1.4345.

Resistance: R1-1.4280, R2-1.4320, R3-1.4350  Support: S1-1.4180, S2-1.4100, S3-1.4040

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



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