4-часовой таймфрейм

ТTechnical data:

Senior channel of linear regression: direction - down.

Youngest channel of linear regression: direction - down.

Moving average (20, smoothed) - down.

CCI: -205.8482

The GBP/USD currency pair continues strong downward movement, which is signaled by the blue bars of the Heiken Ashi indicator. All the fundamental factors are now on the side of the US dollar. This is the trade war the United States waged against their trading partners, which traders interpret as a positive factor, and the "dovish" statements of representatives of the British Central Bank, up to the possible resumption of the quantitative easing program, if the macroeconomic indicators of the UK do not begin to improve in the near future. All indicators also indicate a downward movement and no correction, and a downward trend is maintained in all timeframes. The only thing that speaks in favor of a possible correction is the oversold nature of the CCI indicator. However, this signal needs confirmation. This evening, a speech by the representative of the Bank of England Andy Haldane. If his rhetoric is soft and cautious, then the pressure on the pound may further increase.

Nearest support levels:

S3 - 1.3062

Nearest resistance levels:

R1 = 1.3123

R2 = 1.3184

R3 = 1.3245

Trading recommendations:

For the GBP/USD pair, it is now recommended to open or maintain open short positions earlier with a target of 1.3062 (the last level of Murray). If this target is overcome, then the downward movement can continue and new targets for the downward trade will be obtained.

Longs are recommended to open only after overcoming the moving middle line, which at least today is unlikely to happen. Only in this case, traders will be able to form a short-term uptrend.

In addition to the technical picture, fundamental data and the time of their release should also be taken into account.

Explanations for illustrations:

Senior channel linear regression - blue lines unidirectional movement.

Low channel of the linear– purple line unidirectional movement.

CCI - the blue line in the regression window of the indicator.

Moving average (20; smoothed) - the blue line on the price chart.

Levels of Murray - multi-colored horizontal stripes.

Heiken Ashi is an indicator that color bars in blue or purple.