GBP/USD: Trading recommendations

Yuri Papshev Independent Analyst

GBP/USD maintains positive long-term dynamics, moving within the upward channel on the daily chart. Its upper border passes through the level of 1.4300 and after the breakdown of the local resistance level of 1.4240, this mark will become the closest target of the GBP/USD growth.

More distant growth targets for the pair are resistance levels at 1.4580 (Fibonacci level of 50% correction to the decline of the GBP/USD pair in the wave that began in July 2014 near the level of 1.7200), 1.4800, 1.4830.

Support levels: 1.4153, 1.4100, 1.4034, 1.4006, 1.3970, 1.3900, 1.3840, 1.3730, 1.3665, 1.3600.

Resistance levels: 1.4200, 1.4240, 1.4300, 1.4350, 1.4440, 1.4580, 1.4830.

Trading recommendations

Sell Stop 1.4130. Stop-Loss 1.4210. Take-Profit 1.4100, 1.4034, 1.4006, 1.3970, 1.3900, 1.3840, 1.3730, 1.3665, 1.3600.

Buy Stop 1.4210. Stop-Loss 1.4130. Take-Profit 1.4240, 1.4300, 1.4350, 1.4440, 1.4580, 1.4830.

Author

Yuri Papshev

Independent Analyst

Independent trader and analyst at Forex market. Trade experience - more than 10 years. In trade Yuri Papshev uses a combination of fundamental and technical analysis.

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