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Last Update 21/11/2014 - 10:39am
AnalysisGBPUSD - Intraday - We look to Buy at 1.5665 (stop at 1.5630)
Posted a Double Bottom formation. Price action continues to be mixed and volatile for 5 days in succession resulting in spikes in both directions. Although the anticipated move higher is corrective, it does offer ample risk/reward today.. Further upside is expected although we prefer to buy into dips close to the 1.5660 level.
Our profit targets will be 1.5725 and 1.5775
Resistance: 1.5730 / 1.5775 / 1.5800
Support: 1.5660 / 1.5630 / 1.5588
Not sure about the analysis? Learn how to trade our signals >Disclaimer: This is a promotional sample of our financial analysis. It is provided so that potential clients can see the detail and formation of the information we provide. It is not a recommendation to buy or sell, nor does it constitute advice and you should not act upon this information. Hypothetical and simulated performance results do not represent actual trading, may not account for actual market factors and have many limitations. You may not achieve similar profits or results. No representation is being made with respect to performance, profits or results.
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