Technical analysis of USD/CHF for November 11, 2016

Overview: The USD/CHF pair continues moving in a bullish trend from the support levels of 0.9780 and 0.9830. There are no changes in my technical outlook. The bias remains bullish in the nearest term testing 0.9945 or higher. Currently, the price is in a bullish channel. This is confirmed by the RSI indicator signaling that we are still in a bullish market. As the price is still above the moving average (100), immediate support is seen at 0.9826, which coincides with the golden ratio (61.8% of Fibonacci). Consequently, the first support is set at the level of 0.9826. So, the market is likely to show signs of the bullish trend around the spot of 0.9826. In other words, buy orders are recommended above the golden ratio (0.9826) with the first target at the level of 0.9901. Furthermore, if the trend is able to break out through the first resistance level of 0.9901. We should see the pair climbing towards the double top (0.9998) to test it. It would also be wise to consider where to place a stop loss; this should be set below the second support of 0.9776 on the H4 time frame.

Read more: https://www.instaforex.com/forex_analysis/84143

Technical analysis of GBP/USD for November 14, 2016

Overview:

The market opened below the weekly resistance 2 (1.2610). The GBP/USD pair continued to move downwards from the level of 1.2560 to the bottom around 1.2471. Today, the first resistance level is seen at 1.2560 followed by 1.2610, while daily support 1 is set at 1.2470. The GBP/USD pair broke support which turned to strong resistance at 1.2560. Right now, the pair is trading below this level. It is likely to trade in a lower range as long as it remains below the support (1.2470) which is expected to act as major support today. This would suggest a bearish market because the moving average (100) is still in a negative area and does not show any signs of a trend reversal at the moment. Amid the previous events, the GBP/USD pair is still moving between the levels of 1.2560 and 1.2408. Therefore, the major resistance can be found at 1.2560 providing a clear signal to sell with a target seen at 1.2470. If the trend breaks the minor support at 1.2470, the pair will move downwards continuing the bearish trend development to the level of 1.2408 in order to test the daily support 2. Overall, we still prefer the bearish scenario which suggests that the pair will stay below the zone of 1.2560 and 1.2610 this week. However, if a breakout happens at the resistance level of 1.2610, then this scenario may be invalidated.

Read more: https://www.instaforex.com/forex_analysis/84199

Technical analysis of USDX for November 15, 2016

The Dollar index touched the 100 price level above the important resistance of 99.50 but has reversed since then back at the important 99.50 level. This is a very important junction. A rejection and reversal at current levels will be a very bearish signal that could push price towards 96.50 again.

Red lines - bullish channel

The Dollar index has reached the upper channel boundary and is showing signs of reversal. The Dollar index was very strong the last few sessions but with oscillators diverging and at overbought levels, while price is just at the edge of the upper boundary, bearish positions are preferred here.

Red lines - trading range

Green line - long-term support trend line

In the weekly chart, we can see the Dollar index trying to break above the trading range. However, it is important to be patient and wait and see where this week's close will be. A long upper tail in this week's candle will be a bearish signal that could form a bearish hammer. Bulls need to be very cautious as a pullback even towards 98 is fully justified.

Read more: https://www.instaforex.com/forex_analysis/84253

Technical analysis of GBP/JPY for November 16, 2016

GBP/JPY is expected to trade with bullish bias as it is supported by a rising trend line. The pair has been supported by a bullish trend line since November 11, as well as its 20-period moving average, which remains above the 50-period one. Meanwhile, the relative strength index is held up by an ascending trend line and is positively oriented. As long as 134.15 is not broken down, further bounce is preferred with 136.60 and 137.40 as targets.

The pair is trading above its pivot point. It is likely to trade in a wider range as long as it remains above its pivot point. Therefore, long positions are recommended with the first target at 136.60 and the second one at 137.40. In the alternative scenario, short positions are recommended with the first target at 133.40 if the price moves below its pivot point. A break of this target is likely to push the pair further downwards, and one may expect the second target at 132.45. The pivot point lies at 134.15.

Resistance levels: 136.60, 137.40, 138.20

Support levels: 133.40, 132.45, 131.65

Read more: https://www.instaforex.com/forex_analysis/84297

Global macro overview for 17/11/2016

The Crude Oil Inventories data released yesterday revealed another rise in the stockpiles. Market participants expected a decrease this week from 2432k barrels to 1267k barrels, but the figure revealed was at the level of 5274k barrels. Meanwhile, OPEC members will assemble again on November 30th in Vienna and will try again to agree on a cap in production to stabilize oil prices. Nevertheless, there are serious doubts whether the agreement will be reached as Qatar, Algeria, and Venezuela are working behind the scenes to reach a consensus. If there is no agreement again, the prices might fall even more.

Let's now take a look at the Crude Oil technical picture in the 4H time frame. Despite the increase in stockpiles, the price managed to get back into the dashed blue channel and violate the important technical resistance at the level of 45.92. Currently, the price is moving sideways, but if the technical support at the level of 45.04 holds, then the relief rally will gather momentum and might even test the level of 48.21 (61%Fibo) before reversing.



Read more: https://www.instaforex.com/forex_analysis/84385

Daily analysis of GBP/USD for November 18, 2016

GBP/USD is looking for a clear direction in the short term as the pair is trapped inside a sideways range across the board, hovering around the 200 SMA zone. If we see a breakout above the resistance level of 1.2516, then we can expect an advance towards November 11th highs, because the support area of 1.2377 seems to be a very strong demand zone.

H1 chart's resistance levels: 1.2434 / 1.2516

H1 chart's support levels: 1.2377 / 1.2254

Trading recommendations for today: Based on the H1 chart, buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.2434, take profit is at 1.2516 and stop loss is at 1.2351.

Read more: https://www.instaforex.com/forex_analysis/84403

Daily analysis of USDX for November 21, 2016

A nonstop rally of the US Dollar Index continues to set the tone for the markets, as we're seeing a consolidation above the 101.00 psychological level. Eventually, the index may reach the 102.00 area during this week, as investors continue pricing a possible Fed's rate hike in December meeting.

If USDX manages to break the 101.74 level, the next resistance would be the 102.61 level.

H1 chart's resistance levels: 101.74 / 102.61

H1 chart's support levels: 100.53 / 99.39

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USD Index breaks with a bullish resistance level is at 101.74, take profit is at 102.61 and stop loss is at 100.87.

Read more: https://www.instaforex.com/forex_analysis/84463

Technical analysis of GBP/JPY for November 22, 2016

GBP/JPY is expected to continue its upside movement. The pair broke above its former key resistance at 137.25, which becomes support now, and accelerated on the upside. The upward momentum is further reinforced by its rising 20-period and 50-period moving averages. The relative strength index is above its neutrality level at 50 and lacks downward momentum. As long as 137.25 is support, look for a further upside toward 139.00 and even 140.05 in extension.

The pair is trading above its pivot point. It is likely to trade in a wider range as long as it remains above its pivot point. Therefore, long positions are recommended with the first target at 139.00 and the second one at 140.05. In the alternative scenario, short positions are recommended with the first target at 136.25 if the price moves below its pivot point. A break of this target is likely to push the pair further downwards, and one may expect the second target at 135.45. The pivot point lies at 137.25.

Resistance levels: 139.00, 140.05, 141.10

Support levels: 136.25, 135.45, 134.60

Read more: https://www.instaforex.com/forex_analysis/84523

Technical analysis of USD/CHF for November 23, 2016

USD/CHF is supported by a rising trend line. The technical picture of USD/CHF is bullish above an ascending trend line, which emerged on Nov 22. The relative strength index is above its neutrality level at 50 and lacks downward momentum. Additionally, 1.0060 (Nov 18 and 22 bottoms) represents a significant key support level, which should limit the downside potential. The U.S. dollar was off its multi-year high, it managed to avoid drifting lower. The ICE U.S. Dollar Index marked a day-low of 100.77 before rebounding to settle at 101.04, just a bit down from 101.05 in the prior session.

As long as this key level is not broken, look for a further upside toward 1.0145. A break above this level would call for a further advance toward 1.0190.

Resistance levels: 1.0145, 1.0190, 1.0245

Support levels: 1.0025, 0.9990, 0.9940

Read more: https://www.instaforex.com/forex_analysis/84595

Technical analysis of USD/CAD for November 24, 2016

General overview for 24/11/2016:

The market has retraced 78% of the previous move down, but it was capped at the 1.3535 level where the golden trend line provides resistance. Currently, the pair is trading below the weekly pivot and it is about to break out lower. This is why the intraday support is the key level for daytraders as any breakout below it will confirm the wave c (green) is in progress. The projected target zone for the wave c (green) is the demand zone between the levels of 1.3290 and 1.3312.

Support/Resistance:

1.3596 - WR1

1.3566 - Intraday Resistance

1.3497 - Weekly Pivot

1.3419 - WS1

1.3378 - Intraday Support

1.3308 - WS2

Trading recommendations:

The corrective upward wave progression is about to be completed, so this is why daytraders should consider opening only sell orders with tight SL and TP open for now.

Read more: https://www.instaforex.com/forex_analysis/84674

Technical analysis of EUR/USD for Nov 25, 2016


When the European market opens, some Economic Data will be released, such as Italian Retail Sales m/m. The US will release the Economic Data, too, such as Flash Services PMI, Prelim Wholesale Inventories m/m, and Goods Trade Balance. So, amid the reports, EUR/USD will move in a low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:

Breakout BUY Level: 1.0604.

Strong Resistance:1.0597.

Original Resistance: 1.0587.

Inner Sell Area: 1.0577.

Target Inner Area: 1.0552.

Inner Buy Area: 1.0527.

Original Support: 1.0517.

Strong Support: 1.0507.

Breakout SELL Level: 1.0500.

Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Read more: https://www.instaforex.com/forex_analysis/84708

Technical analysis of gold for November 28, 2016

Gold price is showing reversal signals off the $1,170 lows which was my lower price range level of an important low. This is also the 61.8% Fibonacci retracement of the entire rise from $1,045 to $1,375. I remain longer-term bullish looking for a new upward move above $1,400 over the coming weeks.

Black line - trend line support

Gold price is making higher highs and higher lows in the 30 minute chart as shown above. Short-term support is at $1,179 and resistance at $1,200. A break below $1,179 will put the low of $1,170 in danger. Breaking below $1,170 will open the way for $1,120. A break above $1,200 could confirm the low is in place and we could see a bounce even towards $1,275.

The weekly Gold chart shows price right at cloud support and signs of a bounce starting. This bounce is expected to be the start of the next big upward move that will eventually bring Gold above $1,400. The signs that will confirm this are a break above $1,260 at first and a break above $1,340-50.


Read more: https://www.instaforex.com/forex_analysis/84804

Technical analysis of NZD/CHF for November 29, 2016

NZD/CHF is trending down, having rejected the 50 and 200 Moving Averages as well as the upward trendline. Fibonacci, applied to the last corrective wave where 200 MA was rejected, shows that the pair broke above 161.8% Fibs resistance which opens doors to further rise.

Consider buying NZD/CHF at the current rate (0.7184) targeting either 261.8% (0.7227) or 361.8% Fibs (0.7275). Suggested stop loss is below 50 Moving Average.

Support: 0.7178, 0.7148

Resistance: 0.7227, 0.7275

Read more: https://www.instaforex.com/forex_analysis/84860

EUR/NZD analysis for November 30, 2016

Recently, EUR/NZD has been moving downwards. As I expected, the price tested the level of 1.4834 in a high volume. My downward target at the price of 1.4850 has been met. Using the market profile on the M30 time frame, I found that the price went from balance to imbalance. The price rejected from Fibonacci expansion 161.8% and changed behavor from bearish to bullish. Watch for potential buying opportunties. Targets are set at 1.4940 and 1.5000.

Fibonacci Pivot Points:

Resistance levels

R1: 1.4980

R2: 1.5000

R3: 1.5040

Support levels:

S1: 1.4900

S2: 1.4885

S3: 1.4845

Trading recommendations for today: watch for a potential upward movement.

Read more: https://www.instaforex.com/forex_analysis/84924

AUD/USD dropping perfectly from our selling area, remain bearish


Price dropped absolutely perfectly from our selling area yesterday and is close to our profit target. We remain bearish looking to sell on strength below 0.7436 resistance (Fibonacci retracement, horizontal pullback resistance) for a further push down to 0.7317.

Stochastic (21,5,3) is below descending resistance and sees good downside potential.

Sell below 0.7436. Stop loss at 0.7504. Take profit at 0.7317.

Read more: https://www.instaforex.com/forex_analysis/84992

Interesting information. This analysis is very useful for the fx trading. I've recently read http://pipbear.com/forex-tools/economic-calendar/ article. This information is useful for those who want to trade on exchange.

Technical analysis of GBP/CHF for December 2, 2016

GBP/CHF found strong support at 50-Moving Average that it has been rejecting for a number of times. It looks very much like an uptrend will continue at least to test 0% Fibs applied to the ascending channel breakout.

Consider buying GBP/CHF on small pullbacks to target 0% Fibs (1.2908). Suggested stop loss is below 50-Moving Average. If it manages to break above the 0% Fibs target, price might go much further up. Support: 1.2670 Resistance: 1.2908

Read more: https://www.instaforex.com/forex_analysis/85064

Technical analysis of GBP/JPY for December 05, 2016

GBP/JPY is expected to trade with bullish bias above 142.60. The pair pulled back this morning to test its nearest support at 142.60, representing the current 50-period moving average. The relative strength index is below its neutrality level at 50, and calls for caution. Nevertheless, as long as 142.60 is not clearly broken, any consolidations should be limited before a new bounce toward 145.20 first. A break above 145.20 would call for further advance toward 146.10.

The pair is trading above its pivot point. It is likely to trade in a wider range as long as it remains above its pivot point. Therefore, long positions are recommended with the first target at 145.20 and the second one at 146.10. In the alternative scenario, short positions are recommended with the first target at 141.50 if the price moves below its pivot point. A break of this target is likely to push the pair further downwards, and one may expect the second target at 140.00. The pivot point lies at 142.60.

Resistance levels: 1145.20, 146.10, 146.95

Support levels: 141.50, 140.00, 139.25

Read more: https://www.instaforex.com/forex_analysis/85076

Technical analysis of USD/CHF for December 06, 2016

Overview:

The USD/CHF pair: The market showed signs of instability when it reached the top of 1.0191. The daily resistance and support are seen at the levels of 1.0191 and 1.0054 respectively. The trend of USD/CHF pair movement was controversial as it took place in a narrow sideways channel, the market showed signs of instability. Amid the previous events, the price is still moving between the levels of 1.0191 and 1.0054. In consequence, it is recommended to be cautious while placing orders in this area. We should wait until the sideways channel has completed. On the H4 chart, the price spot of 1.0191 remains a significant resistance zone. Therefore, there is a possibility that the USD/CHF pair will move to the downside and the fall structure does not look corrective. Resistance is seen at the level of 1.0191 today. So, sell below 1.0191 with the first target at 1.0100. In overall, we still prefer the bearish scenario as long as the price is below the level of 1.0191. Furthermore, if the USD/CHF pair is able to break out the bottom at 1.0100, the market will decline further to 1.0053. However, if a breakout takes place at the resistance level of 1.0230, then this scenario may become invalidated. Remember to place a stop loss; it should be set below the second support of 1.0266.

Read more: https://www.instaforex.com/forex_analysis/85154

AUD/USD dropping perfectly from our selling area, remain bearish



Price reacted perfectly below our major resistance at 0.7500 (Fibonacci projection, horizontal resistance, Fibonacci retracement) and we expect a continued drop to at least 0.7370 (Fibonacci retracement, Fibonacci projection, horizontal swing low support).

RSI (34) remains below major 61% resistance.

Sell below 0.7500. Stop loss at 0.7557. Take profit at 0.7370.


Read more: https://www.instaforex.com/forex_analysis/85224

NZD/USD Intraday technical levels and trading recommendations for December 8, 2016

As long as the NZD/USD pair continued trading above 0.6860, further bullish advance was expected towards the upper limit of the depicted channel around 0.7400. During August and September, a consolidation range was established from the price level of 0.7250 up to 0.7350. Later on October 20, the lower limit of the consolidation range (0.7250) stood as a temporary resistance which initiated a bearish movement towards 0.7100 (lower limit of the depicted channel). Bullish recovery was expressed around the price level of 0.7100 on October 28. Hence, a double-bottom pattern was expressed on the chart. Bullish fixation above 0.7250 and 0.7350 was needed to allow further bullish advance towards the projected target of the reversal pattern around 0.7450. However, significant signs of a bearish reversal were expressed around the upper limit of the price range (0.7350). The bearish breakdown of 0.7250 (lower limit of the depicted range) enhanced the bearish side of the market towards the price level of 0.7100 (recent bottom of October 28) which was broken as well. Bearish persistence below 0.7100 allowed a quick bearish decline towards 0.6960 (BUY zone) where bullish rejection and a valid BUY entry were expected. All T/P levels were successfully achieved. The recent bullish pullback towards 0.7120 was considered for selling the NZD/USD pair. However, the resistance level failed to provide enough bearish pressure. That's why, bullish pullback was pursued towards the price level of 0.7230 (the backside of the broken uptrend line) where a valid SELL entry can be offered if enough bearish rejection is expressed. S/L should be located above 0.7320.

Read more: https://www.instaforex.com/forex_analysis/85278

AUD/USD dropped perfectly from our selling area, remain bearish

Price has once again dropped perfectly below our major resistance at 0.7500 (Fibonacci projection, horizontal resistance, Fibonacci retracement) and we expect a drop to at least 0.7370 (Fibonacci retracement, Fibonacci projection, horizontal swing low support).

Stochastic (21,5,3) is seeing major resistance at the 87% level and also displays bearish divergence vs price.

Sell below 0.7500. Stop loss at 0.7557. Take profit at 0.7370.


Read more: https://www.instaforex.com/forex_analysis/85314

Technical analysis of EUR/USD for Dec 13, 2016

When the European market opens, a series of economic data will be released such as ZEW Economic Sentiment, Employment Change q/q, German ZEW Economic Sentiment, Italian Industrial Production m/m, German WPI m/m, and German Final CPI m/m. The US will also release some economic news such as 30-y Bond Auction, Import Prices m/m, and NFIB Small Business Index. So amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:

Breakout BUY Level: 1.0691.

Strong Resistance: 1.0684.

Original Resistance: 1.0674.

Inner Sell Area: 1.0664.

Target Inner Area: 1.0639.

Inner Buy Area: 1.0614.

Original Support: 1.0604.

Strong Support: 1.0594.

Breakout SELL Level: 1.0587.

Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Read more: https://www.instaforex.com/forex_analysis/85414

Daily analysis of USDX for December 14, 2016

The index managed to consolidate above the 200 SMA on H1 chart despite the bearish tone during Tuesday's session ahead of Fed's meeting. Markets are highly expecting a rate hike by the central bank, but that move has been already priced. However, to the upside, we can target the levels of 101.56 and 101.93 across the board. MACD indicator is turning flat.



H1 chart's resistance levels: 101.56 / 101.93

H1 chart's support levels: 100.93 / 100.43

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USD Index breaks with a bullish candlestick; the resistance level is at 101.56, take profit is at 101.93 and stop loss is at 101.18.

Read more: https://www.instaforex.com/forex_analysis/85470

Technical Analysis of Silver for December 19, 2016.



Technical outlook and chart setups:

Silver had dropped to yet another low at $15.85 levels on Thursday before bouncing higher. Please note that the metal is trading around $16.00/05 levels for now and it might be looking to test recent swing lows before turning higher again. The recent rally from $15.85 to $16.27 levels looks corrective and hence the trend might not have changed yet. Furthermore, the metal is trading near the past resistance turned support region indicating a bottom is near. The wave structure indicates that the entire rally from $13.60 to $21.00 levels has been retraced to the Fibonacci 0.618 supports, and a turn is just round the corner. Immediate support is seen at $15.80 levels, while resistance is at $17.25 levels.

Trading recommendations:

Remain flat now and look to go long around yet another low.

Good luck!

Read more: https://www.instaforex.com/forex_analysis/85690

Technical analysis of USD/CAD for December 20, 2016

General overview for 20/12/2016:

The yesterday intraday resistance at the level of 1.3415 was violated and now it will act as an intraday support for the price. This would mean the bottom for the wave (ii) (green) might be in place at the level of 1.3322, but the bearish divergence indicates the intraday correction is going to occur shortly. Nevertheless, the next intraday resistance is seen at 78% Fibo at the level of 1.3479.

Support/Resistance:

1.3503 - WR1

1.3479 - Intraday Resistance

1.3322 - Intraday Support

1.3292 - Weekly Pivot

1.3269 - Intraday Support

1.3167 - WS1

Trading recommendations: The buy orders should be still kept open. TP should be set at the level of 1.3479.




Read more: https://www.instaforex.com/forex_analysis/85754

Technical analysis of EUR/JPY for December 28, 2016

General overview for 28/12/2016:

Wave b (purple) has extended to the upside a little higher than anticipated, but there is still a very high chance that the triangle pattern is unfolding as an overall structure.The projected level for wave e (green) to complete is the intraday support at the level of 122.19 or weekly pivot support at the level of 121.78. Please notice there is still one more wave to the upside missing.

Support/Resistance:

124.07 - WR1

123.20 - Intraday Resistance

122.50 - Weekly Pivot

122.19 - Intraday Support

121.78 - WS1 120.94 - WS2

Trading recommendations: Due to the fact that there is still one more wave to the upside missing, only buy orders should be placed in this market. We recommend to set TP above the level of 124.08.




Read more: https://www.instaforex.com/forex_analysis/86098

Technical analysis of USD/JPY for Dec 29, 2016



In Asia, Japan will release the BOJ Summary of Opinions data and the US will release some Economic Data, such as Crude Oil Inventories, Natural Gas Storage, Prelim Wholesale Inventories m/m, Goods Trade Balance, and Unemployment Claims. So, there is a probability the USD/JPY will move with low to medium volatility during this day.

TODAY'S TECHNICAL LEVEL:

Resistance. 3: 117.38.

Resistance. 2: 117.15.

Resistance. 1: 116.92.

Support. 1: 116.64.

Support. 2: 116.41.

Support. 3: 116.18.

Disclaimer: Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Read more: https://www.instaforex.com/forex_analysis/86118

why is this thread so empty?
people are just afraid of investing when it come to this side of the world... even the time which is the most expensive but at everyone's disposal is difficult to put in for a greater purpose and future.... Forex is the way way forward, don't ever listen to the crowd nor follow them because you can't be unique in their queue but just like them too... Perseverance and hard work galvanized with discipline is needed here and the pay is wealth untold... just my penny advice though

Daily analysis of GBP/USD for December 30, 2016


The pair is headed to close the year above the 1.2185 demand zone, following a recovery's session on Thursday. Currently, GBP/USD is trying to reach the 200 SMA at H1 chart and if it manages to break above the 1.2300 handle, then that scenario is likely to happen in the short-term. However, that moving average should be acting as dynamic resistance.




H1 chart's resistance levels: 1.2250 / 1.2317

H1 chart's support levels: 1.2185 / 1.2121

Trading recommendations for today: Based on the H1 chart, sell (short) orders only if the GBP/USD pair breaks a bearish candlestick; the support level is at 1.2185, take profit is at 1.2121 and stop loss is at 1.2250.

Read more: https://www.instaforex.com/forex_analysis/86174