GBP/USD Signal - April 22, 2013

|

By: DailyForex.com

The bounce back on the GBPUSD pair seems to be ending with the return of the pair below the 1.5240 support. In terms of technical indicators, the MACD displays its first negative histogram while the RSI resumes downward following its contact with the neutral zone. Investors may therefore choose a bearish trade on the pair with a stop loss placed above the moving average at 20 sessions to target a return on the latest lows.
Direction: Down
Entry: 1.5231
Stop-loss: 1.5310

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.