hussein.ahmed
Long

Trend Reversal Pattern. 13/05/2015

FX:GBPUSD   British Pound / U.S. Dollar
58 0 1
Prices have been holding on the downtrend since July 2014, until prices reached a strong support level of 1.46000 round figure on April, 2015. Looking at the blue trend line , it is clear that prices have spiked up to trade above the resistance line to close above the 50, 100, and 200 Daily Moving Average suggesting a greater probability for a trend reversal to the upwards. Today's candle finally closed above the 200 MA line, suggesting further increase in prices for the pair. Considering Fib retracement, prices closed above the 38% resistance level which puts us to target the next possible resistance level of 1.58244 which acts as the resistance of the green candle tick which we believe could be tested. We suggest that prices will move to target the next round level of 1.60 then 1.62 on the longer term.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out