Forex Technical Analysis of GBPUSD for October 26, 2015 | Forex Signals Market
Sunday, October 25, 2015

Forex Technical Analysis of GBPUSD for October 26, 2015

Support                              -   S1 : 1.5273 | S2 : 1.5232 | S3 : 1.5160
Resistance                          -   R1 : 1.5386 | R2 : 1.5459 | R3 : 1.5499
Main Trend                       -   Bearish
Intraday Trend                 -   Bearish

Studying the 4H chart of forex technical analysis we have to notice that EMA(50) and EMA(200) are above price and have an upward cross. Price is below of the lower channel of Andrew's Pitchfork and finds support from the green trendline.

Considering all the details from the charts of forex technical analysis we can detect all critical levels and trading targets for H1 and H4 timeframes:

Forex Technical Analysis

4H Chart


The area 1.5386  – 1.5408   is a neutral zone.

Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 1.5460, 1.5505, 1.5560.

Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 1.5275, 1.5250, 1.5220, 1.5160.

1H Chart


The area 1.5339 – 1.5351  is a neutral zone.

Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 1.5370, 1.5390, 1.5410, 1.5430.

Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 1.5280, 1.5250, 1.5210, 1.5175, 1.5100.

Forex Technical Analysis
There are Harmonic Patterns on 4H chart: Bullish 2.0xAB=CD and on 1H chart: Bullish .786xAB=CD

Using the above elements of forex technical analysis, everyone can plan his own personal forex trading strategy. We note the need to use stop-loss levels.

You agree with our estimates? If you have another point of view, you can write your opinion in comments.

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1 comment:

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