Forex Signals - Intraday Strategy for GBP / USD 28/04/10

Pair GBP / USD is traded on the hourly chart within the downtrend with a probability of an upward move. The course is located below the moving average speriodom 55 on the hourly chart, the level of 1.5374, thereby reducing prices.

I recommend to open long positions in the position after the breakdown of the results of hours of resistance at 1.5242 in order to increase the resistance 1.5278 and if it is the breakdown on the basis of hours to 1.5309. Stoploss if this strategy can be positioned at the level of 1.5197.

I recommend to open short positions after the breakdown on the basis of hours of support at 1.5171 to reduce the level of support at 1.5147 and if it is the breakdown of 1.5126. Stoploss if this strategy can be positioned at the level of 1.5212.

Given that the moving average and the location of boundaries of technical figures over time is moving, it is necessary to the hourly chart to adjust their status. I also recommend to open positions up to an hour to avoid false breakouts.

In the case of strong motion by the technical breakout figures suggest to wait for correction. The level, which was the resistance should be a strong support and it was near this level should open position in the direction of the breakdown.

Analyst "Forex Analytics" Alex Sedyshev

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