GBP/USD- Near Its Support Zone
AvaTrade | Apr 06, 2016 04:41AM ET
The GBP/USD pair is trading near its minor support zone (1.4107-1.4051) on a 4 hour time frame. The price is trading at 1.4125 which is below the 50 and 100 day moving averages (shown in yellow and red). The reading for 50 day MA is 1.4252 and the 100 day is 1.4268. The price is trading within the Bollinger band and this represents lower volatility.
The RSI is trading in line with the price action which means that the bias is skewed towards the downside. The reading for the RSI is 31.11.
by Naeem Aslam
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.