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Business / Finance

Technical analysis of GBP/USD 17.08.2017

MQL5: Blogs Traders 17.08.2017 at 08:45

Blogs traders and analyst of financial markets

MEDIUM-term MARKET TIMEFRAME N 1

As shown by today's technical analysis on the GBP/USD, nothing has changed, everything continues the third wave from 1.3033. Technically you can go on short-term market and to consider the inputs at its continuation to the target marks 1.2830 and 1.2770.

But it is more correct to consider entrance level 1.2830, in the presence of consolidation on short-term market. If the market strengthens above 1.2905, the current third wave will end.

In this scenario, sales will also remain a priority, but after the end of the ascending wave, which may test the resistance level at around 1.2948. In this case, we can consider the input for a bounce off this level.