Intraday technical levels and trading recommendations for GBP/USD for January 11, 2019 888011000 110888 Considering That Mid-November, Successive Lower Highs were demonstrated around the price levels of 1.3060, 1.2920 and 1.2800 preserving movement within the depicted H4 bearish channel Quickly after, a fast decrease was shown towards the price level of 1.2500 prior to bullish healing could happen on December 12. A bullish Head & Shoulders pattern was demonstrated on the H4 chart with neck linelocated around 1.2650-1.2680. An effective bullish breakout above the portrayed bearish channel was shown on December 24. On December 31, early bullish breakout attempt above 1.2720 was shown on the H4 chart.The market failed to maintain adequate bullish momentum above 1.2800 (mid-range of the depicted consolidation variety). That’s why, another bearish pullback was executed towards 1.2500(behind ofthe broken channel)where significant bullish healing was shown during last Thursday’s consolidations.This week, another bullish breakout above 1.2720 was tried to resume the bullish situation of the marketplace towards 1.2800, 1.2880 and 1.3000. Otherwise,the pair remains caught within the previous consolidation range (1.2500-1.2720). Bullish persistence above 1.2720 is necessary for buyers. Any decline listed below 1.2600 invalidates the bullish situation recommending an additional decrease towards 1.2440. On the other hand, the price level of 1.2800 stands as an intraday key-level corresponding to mid-range of the previous debt consolidation zone (1.2720-1.2870 which needs to be broken for a more bullish advance.The material has been offered by InstaForex Business-www.instaforex.com

By | January 11, 2019

Leave a Reply

Your email address will not be published. Required fields are marked *