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FOREX: Technical analysis 22.11.12

22.11.2012

Market Review

GBP / USD

News background:

Sterling continues to receive good support on news of a high degree of probability of a positive decision by the Eurogroup on Monday the issue of providing regular financial assistance to Greece.

Technical picture:

From a technical point of view, the pair is in the short-term uptrend. Against the background of the good news of the Eurogroup and the dynamics of negotiations between Obama and the U.S. Congress, there is a likely increase in optimism among market participants that would certainly be a couple of local support. Price is above the center line of the Bollinger and EMA 5 and 21, which confirms the stability of short-term upward trend.

Oscillator Stoch. indicates overbought. RSI indicator is also included in the local area overbought.

Trading recommendations. Buy a pair of the rebound down a likely target 1.6025-35.

Technical analyst at Forex Bulygina Marina.

Analytical department of Grand Capital

Author: admin

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