Our last analysis on GBPUSD was about the bullish signal it gave when price broke above the 1.34-1.35 resistance giving us 1.40 as the first target. After a month from our last analysis we see price around 1.3650 with a high around 1.3750.


Red line – resistance

Green line – support

Blue lines – expected size of upward move

GBPUSD continues to make higher highs and higher lows. Trend remains bullish as long as price is above the upward sloping green trend line. The support by the green trend line is now found at 1.35 level which was once resistance. We could see a pull back as a back test towards that level as we observe the RSI not making new highs as the price. There is a bearish divergence in the RSI that provides a warning to bulls.

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

Leave your vote

🚀If you want to get a Forex Robot Coded as per your trading strategy but are unable to do so because of the high price for the Robot then you can take advantage of the CROWD FUNDING campaigns feature. ✔ These are some crowd funding campaigns for Forex Robots, which when completed can provide the very same Forex Robot to the participants at an average price of $5-$10 per participant. ✔ You either participate in one of the already listed campaigns or send us your Forex strategy : Submit Crowd Funding Campaign , for which you would like the Forex Robot to be coded. A Crowd Funding Campaign would then be started for the same . ✔ All you have to do later on is to share the campaign online with your friends to encourage more people to participate in the campaign.

As a result, each participant can get that Forex robot for just a campaign contribution of $5 (which is the minimum). Participants can back the campaign by anything above or equal to $5 to reach the funding goal to close the campaign.