GBP/USD Signal - April 18, 2013

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By: DailyForex.com

The GBPUSD pair is testing its former resistance that is now a support but retains an alarming technical configuration. In terms of technical indicators, the RSI resumes its downward trend following its contact with the neutral zone in the 50. In this configuration, investors will monitor any break of the moving average at 20 sessions that could mark the resumption of the downtrend.
Direction: Down
Entry: 1.5220 (trigger threshold)
Stop-loss: 1.5350

GBPUSD Signal

Maxime Parra has been trading since the age of 18, and he is now in charge of technical and fundamental analysis at BNRY.com and Tmarkets.com. Fascinated by the psychology of financial markets and technical analysis, he is also the head of the “Fédération Sud Finance” and is preparing for the Degree of the Chartered Financial Analyst (CFA) level 1 at the SKEMA Business School. Maxime favors trend following strategies by combining chartist analysis with the use of technical indicators.