FOREX FORECAST FOR 28TH OF JANUARY, 2013. CLICK ON THE CHART TO ENLARGE
Money and Finance

FOREX FORECAST FOR 28TH OF JANUARY, 2013. CLICK ON THE CHART TO ENLARGE


Today on the 4 hour chart, the GBP/USD is on a long term downward trend. But we are going to pay attention at the level marked with the  purple colour line 1.5893 (which will be our Pivot Point). Currently the market is moving upwards and we are expecting it to rebounce on the thick purple coloured pivot point before continuing the down movement.

RECOMENDATION : Buy if the price break the purple colour pivot point level line 1.5893 with stop loss place a little below the pivot point level line 1.5893 and take profit set at 1.6037 and upwards respectively.

Sell if the price continues on its downwards trends or rebounce on the purple coloured pivot point level line 1.5893 and is going downwards with your stop loss place a little above the purple coloured pivot point level line 1.5893 as the direction of the arrow indicate. Please always use your MACD to time your entry point. And risk only 3% of your capital.






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