Today’s Forex Guide

GBP/USD 4-hour: Continues to drop as breaking below the previous bottom


Mar.12.2015

3:45 pm (EST) Update

GBP/USD 4-hour Forex Dance Floor
GBP/USD 4-hour: Continues to drop as breaking below the previous bottom.

Invest Diva positioning: Short positions below 1.4892 with targets at 1.4809 and 1.4647 in extension.

Technical reasons why: The pair reached our bearish target and continues to drop down below the Ichimoku's cloud. The RSI is at overs-sold zone.

Alternative Scenario: Above 1.4892 look for further upide with 1.5047 and 1.5144.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
1.4809 1.4892 1.5047
1.4647 1.5144


USD/CHF 4-hour Forex Dance Floor
USD/CHF 4-hour: Uptrend prevails.

Invest Diva positioning: Long positions above 0.9960 with targets at 1.0197 and 1.0353 in extension.

Technical reasons why: The pair keep on an overall uptrend towards the previous level before Black Thursday. The RSI is above the neutrality area.

Alternative Scenario: Below 0.9960 look for further downside with 0.9767 and 0.9501.

Where I'm setting my stops and limits:

Support Levels Turning Point Resistance Levels
0.9767 0.9960 1.0353
0.9501 1.0197

 

pond down britain

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