FX.co ★ GBP/USD Technical Analysis for February 22, 2013

DESCRIPTION :

As we look at the charts, all three Moving Averages are still in the "Death Cross" formation pattern that indicates the bearish momentum still remains, but pay attention to the 1.5275 level, if this currency today can break above that level, there will be a pullback to upside for this pair.

Recommendation:

SELL Stop (Pending Order) @ 1.5232.

Take Profit. 1 @ 1.5219.

Take Profit. 2 @ 1.5198 (Optional).

Stop Loss @ 1.5254.

Alternative:

BUY Stop (Pending Order) @ 1.5279.

Take Profit. 1 @ 1.5301.

Take Profit. 2 @ 1.5336 (Optional).

Stop Loss @ 1.5244.

Best regards,
Arief Makmur
Official Analyst of InstaForex Companies Group InstaForex Companies Group
https://instaforex.com
Email : Arief.jakarta@indo.instaforex.com
Blog : blog.mt5.com/arief

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