empty
 
 
Back Technical analysis
analytics69fc40147e668.jpg
Back Technical analysis
GBP/USD: May 7th – Limited Upward Momentum
On the hourly chart, the GBP/USD
The premium article will be available in
00:00:00
The premium article will be available in00:00:00
On the hourly chart, the GBP/USD pair on Wednesday returned to the resistance level of 1.3596–1.3620 and made a second unsuccessful attempt to consolidate above it. Since the attempt failed, the British pound may decline today back toward the support level of 1.3513–1.3539. A consolidation above the 1.3596–1.3620 level would allow traders to expect continued growth toward the 76.4% Fibonacci retracement level at 1.3700. The wave structure remains bullish. The latest completed upward wave broke above the previous peak,
Fresh articles are available only to premium users
Read analytics in early access, getting information first
Get
Samir Klishi,
Analytical expert of InstaForex
© 2007-2026
Summary
Urgency
Analytic
Grigory Sokolov
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $9000 more!
    In May we raffle $9000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback