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Feb 29

GBPUSD Bullish Outlook

megaforexfx Posted by: megaforexfx Print PDF
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GBPUSD Bullish Outlook for Feb. 29

Hi María here. I hope you enjoy this extra day for 2012!

Do you know?

Accounts in USD, EUR, RUR

To protect your funds from a fall risk of the US dollar exchange rate you can open an account in another currency. Open your account www.fx-megaforex.com

GBP/USD

The Pound Sterling - U.S. dollar pair, overcame the moving average of 200 periods and found resistance in the weekly R_1, the MCD indicator is showing exhaustion, and a possible correction, at least until 1.5810.

Since it is the end of the month, and some take profits and liquidate their orders. entering buy deals at current levels of rates would be very dangerous.

In addition we recommend buying at the lower levels around 1.5830 with a target 1.6060. A break below 1.5800 will change our bullish outlook.

Have a great day

María

www.fx-megaforex.com

Smart solutions for your professional trading.

You can also read the technical analysis and trading recommendation for the USDCAD

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