GBP/USD Intraday Technical Analysis 2012-12-31 |
 0/5
|
|
|
||
The spot rate approaches the upper limit of its medium-term bearish channel at 1.6210 suggesting a decline. However, a break of these levels will initiate a violent bullish channel.
Technical indicators do not provide clear signals but until the resistance is not broken the assumption of a decline is most likely. Bollinger bands have stabilized showing a more regular volatility.
The spot rate is currently testing the upper limit of its channel, we suggest 2 scenarios. The first one is the hypothesis of a decline where we recommend a sell on the level of 1.6210 with the 1st objective at 1.6150 and then at 1.6130. A breakthrough of 1.6230 will invalidate this scenario. The second scenario is a break of its resistance where we recommend a “buy stop” which means to buy the spot rate as soon as it is broken through its resistance of 1.6210 with the 1st objective at 1.6270 and then at 1.6290. A breakthrough of 1.6190 will invalidate this scenario.
I just need to know, that what else I can do for making KLSE stock analysis to be more easy for me.
ReplyDeleteI am very much pleased with the contents you have mentioned I wanted to thank you for this great post.
ReplyDelete