FX.co ★ GBP/USD technical analysis for February 15, 2013

DESCRIPTION:

This currency pair is still driven by the healthy Bearish momentum and is now heading to 1.5375 as a target. Unless it goes to 1.5685, it will be a sign of weakness for the GBP/USD Bearish movement.

Recommendation:

Sell stop (pending order) at 1.5468.

Take profit 1 at 1.5446.

Take profit 2 at 1.5411 (optional).

Stop loss at 1.5502.

Or

Buy stop (pending order) at 1.5526.

Take profit at 1.5540.

Stop loss at 1.5516.

Best regards,

Arief Makmur

Official Analyst of InstaForex Group

InstaForex Group

https://instaforex.com

Email: Arief.jakarta@indo.instaforex.com

Disclaimer:

Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.