GBP/USD intraday technical levels and trading recommendations for April 24, 2014

https://forex-images.instaforex.com/userfiles/20140424/gbpdaily.jpg

Show full picture Show full picture On April 15, the bulls were concentrated around 1.6666. They provided significant support on the last pull-back resulting in a bullish reversal Hammer daily candlestick. Shortly after, a consolidation zone was established between 1.6767-1.6830. The bulls couldn’t show enough follow up around 1.6850. Instead, a sideway movement is taking place. The GBP/USD pair looks bearish on the short-term prospective. Breakdown of 1.6767 opens the way towards 1.6700 and 1.6660. On the other hand, price zone of 1.6830-1.6850 should be considered for selling as long as the bulls can’t achieve the daily closure above it. Mohamed Samy is taking part in the “Analyst of the Year” award organized by MT5.com portal. If you like his article, please vote for him. Performed by Mohamed Samy, Analytical expertInstaForex…


Read More: GBP/USD intraday technical levels and trading recommendations for April 24, 2014