17:20Forex Signals on GBP / USD pair on 20/02/2014
Forex Signals on GBP / USD pair on 20/02/2014|
Pair GBP / USD hourly chart is trading within a downtrend . Rate is below the moving average with period 55 on the hourly chart , the level of 1.6695 , thereby reducing prices .
Signal for a long position will be breakdown up to an hour of resistance at 1.6747 in order to increase the resistance level at 1.6780 and in case of breakdown up to an hour to 1.6816 . Stoploss for this strategy can be placed at 1.6710 .
Signal for a short position would be the breakdown on the basis of hours of support at 1.6638 to decline to the support at 1.6601 in case of breakdown up to an hour 1.6564 . Stoploss for this strategy can be placed at 1.6700 .
Given that the moving average and the location of the boundaries of technical figures over time, moves to the hourly chart to adjust their status. I also recommend the open position up to an hour to avoid false breakouts.
In the case of a strong movement in the breakout technical figures , I recommend to wait for the correction . That level, which was the resistance should be strongly supported and it was near this level should open position in the direction of the breakdown .
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