From the New York Stock Exchange, my name is Kiana Danial they call me Invest Diva, the go-to investing advisor who helps you make money the right way. I hope you enjoyed the long holiday weekend and if you are clueless about forex trading, please first visit the Learn to Earn page on Investdiva.com, and then come back here to hear about today’s diamond analysis on a currency pair, dancing on the forex dance floor.
The pick of the day is GBPUSD as the pair remains within a midterm bullish channel dancing above the Ichimoku cloud with the RSI scratching the overbought zone. We already reached our first bullish target of 1.68223 and the pair seems determined to move further up to 1.704 and 1.74 which are highs from back in 2009. Alternatively, a downside breakout of 1.6450 would call for 1.62 and 1.5870 in extension.
On the fundamental side, Today’s data is light to non-existent, the main movers are US housing data, Eurozone consumer confidence and construction output. However this afternoon we see ex Fed Chairman Ben Bernanke speaking at the economic club. That would be delightful.
Intraday Daily Forex Technical Levels
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GBP/USD Intraday: rebound. | | |
Pivot: 1.6785Our preference: Long positions above 1.6785 with targets @ 1.6845 & 1.6865 in extension.Alternative scenario: Below 1.6785 look for further downside with 1.677 & 1.675 as targets.Comment: The pair is rebounding and is breaking above its resistance.Supports and resistances: 1.688 1.6865 1.6845 1.6824 Last 1.6785 1.677 1.675 |
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