DAILY FOREX ANALYSIS 7/23/2013

PAIR: GBPUSD

TECHNICAL STUDIES: Daily Pivot Points, Moving Averages (5,10,15,50,100,200), Bollinger Bands, RSI.

Daily Pivot Points: PP 1.5333, R1 15.409, S1 1.5283. price opened above pivot point so it is bullish today. 

Moving Averages: SMA5 1.5281, SMA10 1.5195, SMA15 1.5132 are rising and providing support. SMA50 1.5285, SMA100 1.5289 are below price providing support. SMA200 1.5577 is resistant point. 

Bollinger Bands:  Price is above middle band so it is bullish. 

RSI: RSI reading is 56 in bullish zone.

BIAS: Today my bias is bullish.

Risk: Technically i don't see any risk today. SMA200 can provide strong resistance but we might not test it today.

Trade Plan:

Buy above 1.5409

sell below 1.5283
CONTACT: newtraders01@gmail.com