Source: PaxForex Premium Analytics Portal, Technical Insight
GBP/USD can't take advantage of the current weakening of the dollar amid the slippage in negotiations on Brexit and the threat of quarantine in Birmingham, a major English city..
GBP/USD, 30 min
Pivot: 1.3085
Analysis:
Provided that the currency pair is traded above 1.3075, follow the recommendations below:
- Time frame: 30 min
- Recommendation: long position
- Entry point: 1.3085
- Take Profit 1: 1.3115
- Take Profit 2: 1.3145
Alternative scenario:
In case of breakdown of the level 1.3075 follow the recommendations below:
- Time frame: 30 min
- Recommendation: short position
- Entry point: 1.3075
- Take Profit 1: 1.3050
- Take Profit 2: 1.3025
Comment:
RSI shows ascending momentum during the day.
Key levels:
Resistance | Support |
1.3170 | 1.3075 |
1.3145 | 1.3050 |
1.3115 | 1.3025 |
GBP/USD, D1
Pivot: 1.3096
Analysis:
While the price is above 1.2880, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.3096
- Take Profit 1: 1.3270
- Take Profit 2: 1.3515
Alternative scenario:
If the level 1.2880 is broken-down, follow the recommendations below.
- Time frame: D1
- Recommendation: short position
- Entry point: 1.2880
- Take Profit 1: 1.2670
- Take Profit 2: 1.2470
Comment:
RSI indicates that the uptrend continues in the medium term.
Key levels:
Resistance | Support |
1.3700 | 1.2880 |
1.3515 | 1.2670 |
1.3270 | 1.2470 |
We also advise you to pay attention to the following currency pairs for intraday trading:
NZD/USD – buy above 0.6512 with 0.6557 and 0.6570 as Take Profit targets. Alternative scenario - if the level of 0.6512 is broken-down you should consider selling with the targets 0.6490 and 0.6477 as Take Profit.
USD/CAD - short positions below 1.3240 with 1.3190 and 1.3165 targets as Take Profit. Alternative scenario - if the level of 1.3240 is broken-out, buy with the targets 1.3255 and 1.3280 as Take Profit.
EUR/USD – sell below 1.1820 with 1.1780 and 1.1755 targets as Take Profit. Alternative scenario - if the level 1.1820 is broken-out, buy with the TP 1.1850 and 1.1880.