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Forex Market Analysis and Trading Tips 18th August 2016


Forex Market Analysis and Trading Tips 18th August 2016



The GBPUSD pair bounced slightly during the course of the day on Wednesday, using the 1.3025 level as support. At this point in time, the market is looking bullish. The primary trend of GBPUSD is bullish on charts and price is trading below its Resistance trend line in its 1 hourly chart. In its daily chart the price is sustaining above 50 day SMA that are appears on the above image indicating uptrend of the pair. It is having an important resistance at the level of 1.3088 Support at the level of 1.3025. If it breaks its resistance level on the upside and sustains above it then we can expect it to show further bullish movement in the pair.

MACD is sustaining in its positive territory indicating the bullish trend in the pair.
RSI is sustaining in its buying zone indicating the upcoming positive trend in the pair.

GBPUSD is looking bullish on charts for next few trading session. One can go for buy on lower level strategy for this pair for intra day to mid term positions in it.

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