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pair- gbp/usd
time frame analysis- m15
http://i59.tinypic.com/jtt47r.jpg
the price is falling down side with making the double top chart pattern having resistance at 1.5365 level and nick line of support at the 1.5322 level. the price is continue in down side but with a correction. hold the short entry with take profit at 1.5220 and stop loss at 1.5390
good luck.
It stabilized trading pair of sterling against the dollar yesterday, above the level of 1.5335, which offers opportunities for positive signs that support the continuation of the bullish tendency in the coming sessions, and re-target previously breached neckline of the double top pattern that appears when the image test 1.5445.
We expect a positive trading on the intraday basis, noting that the breach of 1.5335 and stabilizing below it will re-activate the bearish scenario without the need to re-test the above-mentioned level, especially since the stochastic is showing negative signs are clear now, along with the negative pressure offered by SMA 50.
GBP/USD. The bias is bearish in nearest term especially if price able to make a clear break below 1.5280 area to trigger further bearish pressure aiming 1.5200 area. On the upside, immediate resistance is seen around 1.5385 area, another consistent break above that area would bring the price to neutral zone as direction would become unclear in nearest term perhaps retesting 1.5430 area before turning lower.
To day support and resistance date.4/6/2015
Resistance 3 1.5200
Resistance 2 1.5170
Resistance 1 1.5125
Pivot Point 1.5100
Support 1 1.5065
Support 2 1.5035
Support 3 1.5000
Sell order:Bhai mary plan ya hai jub market support 1ko touch kry to sell k order lga den or se k tp support 2 ok kr den or stop loss resistance1 ok kr den
Buy order:jub market resistance1 ko touch kry to buy k order lga den or se k tp resistance2 ok kr den or se k stop loss support1 kr den.
Plan 2:sell order: jub market resistance3 ko touch kry sell order ok kr den or stop loss 20 pip kr den.
Buy order:jub market support3 ko touch kry to buy k order ok kr den.
GBPUSD:consolidation before the Bank of England's meeting
GBPUSD
June 4, 2015, 09:47
Buy on a level breakthrough of 1.5375 with 1.5450 target. Stop loss = 1.5325.
Reason for the trading strategy
In May, the business activity index in the UK services sector fell from 59.5 p. to 56.5 p., not allowing the pound to rise above the 1.5375 level yesterday. Today, market participants' attention will be focused on the Bank of England. It is expected that the regulator will keep its key interest rate and volume of asset purchases unchanged. The regulator will probably present new projections for inflation and growth rate of the British economy.
GBPUSD, H4
https://www.exness.com/media/media/2.../2_Nedlbw9.png
Daily Forecast
Major Trend: Bullish
Time Frame: H4
Reason: It appears that the market has rejected Fibonacci 423.6 in the third resistance at 1.5445. Thus, predictable, can resume a stronger bearish trend.
Recommendation: Sell
It stabilized trading pair of sterling against the dollar below the level of 1.5335, which keeps the negative pressure based on the intraday and short term, supported by clicking which puts him 50 SMA, and thus, we are waiting for the bounce price down for the resumption of the corrective bearish trend, which targets 1.5190 levels and 1.5040 on through next period.
GBP/USD. The bias is bearish in nearest term especially if price able to make a clear break below 1.5335 area to trigger further bearish pressure aiming 1.5280 area. On the upside, immediate resistance is seen around 1.5450 area, another consistent break above that area would bring the price to neutral zone as direction would become unclear in nearest term perhaps retesting 1.5500 area before turning lower.
Suspended trading GBP against the dollar following the confirmation of the trend levels are 1.5335 support and 1.5445 resistance, and as we pointed out in our last report, the price needs to break through one of these levels to determine the next destination, more precisely, which makes us continue to neutral so far.
Spoiler: