empty
 
 
16.05.2023 08:46 AM
Technical Analysis of Intraday Price Movement of GBP/USD Main Currency Pairs, Tuesday May 16, 2023.

This image is no longer relevant

With the appearance of hidden deviations between price movements and the Stochastic Oscillator indicator and negative crossings from the EMA 25 and 50 as well as the appearance of the Double Top (Yellow Circle) on the 4-hour chart, the main currency pair GBP/USD in the near future will try to test the bullish Fair Value area level The gap in the range of 1.2475-1.2465 as the main target and the 1.2444 level as the second target. However, what needs to be considered is if on the way to these target levels there is a sudden upward correction which exceeds the 1.2539 level, then all of the downward scenarios described earlier will be become invalid.

(Disclaimer)

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
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 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