empty
 
 
04.05.2012 05:39 PM
GBP/USD Sell Below 1.6170 for May 04, 2012 (Daily Strategy)

This image is no longer relevant

 

The British pound was traded at 1.6185 against the dollar, tending slightly bearish an the daily chart near the strong support 1.6170; the breakdown of this level could change the course of crossing the American session. On the other hand, a return to the recorded high could be a clear opportunity to sell in the correction. We believe that the upward trend of the pound will not last for long time.

The indicators show an overbought market. The correction is expected to continue till the beginning of the next week.

InstaForex Analyst,
Analytical expert of InstaForex
© 2007-2026
Summary
Urgency
Analytic
InstaForex Analyst
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback