Source: Forex Analysis
Great Britain Pound vs US Dollar
The development of the movement of Her Majesty ‘s currency in GBP / USD in May 2019 will be due to the testing and direction of the breakdown of the 1/2 Median Line channel borders (1.3000 <-> 1.3050 <-> 1.3100) of the forked operating scale Minute.
The layout of the movement options inside the 1 / 2ML Minute channel is presented in an animated graphic.
Break resistance level 1.3100 (upper border of channel 1/2 Median Line Minute) -> continued development of the upward movement of GBP / USD to the equilibrium zone (1.3250 <-> 1.3370 <-> 1.3450 ) of the forks of the Minute and 1/2 Median Line channel ( 1.3370 <-> 1.3640 <-> 1.3870 ) of the forked operating scale Minore.
Details are shown in animated graphics .
Development Outlook for a Downward Movement (sell )
Breakdown of the support level of 1.3000 (the lower border of the channel member 1/2 the Median Line of the operational scale Minute) -> resumption of the downward movement of GBP / USD to the targets -> initial line SSL Minute ( 1.2900 ) <-> local minimum 1.2864 <-> initial line SSL (1.2840) for the operational line Minor scale <-> control line LTL Minor (1.2580).
Details look at the animated graphics .
The review was compiled without taking into account the news background, the opening of trading sessions in the main financial centers. This is not a guide to action (placing orders “sell” or “buy”).
The material has been provided by InstaForex Company – www.instaforex.com