Basic Characteristics of GBP/USD trading
GBP/USD trading
The GBP which is also referred to as Cable, the British Pound or even pound sterling, tends to trade at a wider range during the day. The GBP/USD is renowned as the most erratic and volatile currency pair as it is not unusual to see false alarms and unpredictable movements. Having unforeseeable changes in its price is the major attraction for experiences traders along with a very challenging investment for beginners.The use of Technical Analysis and of the fundamental news coming from the United Kingdom and the U.S. are common grounds to trading the pair in an informed manner that helps you increase your chances of profitability. There are a couple of good tips you need to consider when you choose trading GBP/USD. Building a definitely good trading strategy is based on always keeping yourself abreast to news of both economies especially to identify and observe unexpected economic news releases which may cause erratic behaviour in this pair’s market price.
23/11/2015
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| Upwards scenario: Downtrend formation
remains strong on the medium-term perspective, however upside progress
is possible today. Loss of resistance at 1.5191 (R1) is required to open
path towards to higher target at 1.5208 (R2) and then final aim is seen
at 1.5225 (R3) today. Downwards scenario: Recently created local low at
1.5156 (S1) suggest an important support level. Break here is required
to open way towards to our lower targets at 1.5138 (S2) and 1.5121 (S3)
in potential. Resistance Levels: 1.5191, 1.5208, 1.5225 Support Levels: 1.5156, 1.5138, 1.5121 |
Down
Downward
Bullish
Low
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