Site map
العربية Български 中文 Čeština English Français Deutsch हिन्दी Bahasa Indonesia Italiano Bahasa Malay اردو Polski Português Română Русский Srpski Slovenský Español ไทย Nederlands Українська Vietnamese বাংলা Ўзбекча O'zbekcha Қазақша

InstaForex Client Area

  • Personal settings
  • Access to all InstaForex services
  • Detailed statistics and reports on trades
  • Full range of financial transactions
  • System of managing several accounts
  • Maximum data protection

InstaForex Partner Area

  • Full information on clients and commissions
  • Graphic statistics on accounts and clicks
  • Webmaster instruments
  • Ready-made web solutions and wide range of banners
  • High data protection level
  • Company's news, RSS feeds, and forex informers
Register account
Affiliate Program
cabinet icon

Another Lamborghini from InstaForex!Maybe it will be you who will take the keys!

Just make a deposit of at least $1,000 to your account!

Get the best trading conditions and attractive bonus offers! We have already given 6 legendary sports cars! But it does not stop there! The next Lamborghini Huracan of the latest generation may be yours!

InstaForex – invest in your victories!

Instant account opening

Get a letter of instructions
toolbar icon

Trading Platform

For mobile devices

For trading via browser

4-hour timeframe

Exchange Rates 17.05.2019 analysis

Technical data:

The upper linear regression channel: direction – down.

The lower linear regression channel: direction – down.

The moving average (20; smoothed) – down.

CCI: -115.5862

On Friday, May 17, the British pound continues its non-stop fall against the US currency. As we wrote yesterday, for the pound, this type of fall is the most dangerous since it can last for a long period of time. At this time, the pound does not even need any macroeconomic data to continue the fall. The pound is falling by inertia, simply because traders continue to get rid of it. Meanwhile, high-ranking officials of the British Parliament held a meeting with Theresa May, in which the resignation of the Prime Minister was again discussed. Theresa May has promised to agree on a date for the election of the country's new leader in the coming weeks but it seems that she still hopes to hold her "deal" with the EU through Parliament on the fourth attempt. And if it fails again, it will remain at the helm of the country. Frankly speaking, in this situation, there are more questions to the Parliament than to Theresa May. Parliament could dismiss May at least 2 times. There were as many as 8 possible options for the country's exit from the EU but they were all rejected by Parliamentarians. Thus, this situation shows the fragmentation of opinions in the government at such important times, the lack of unity and also the courage to change the Prime Minister, if the current Prime Minister is unable to complete the Brexit procedure.

Nearest support levels:

S1 – 1.2756

S2 – 1.2695

S3 – 1.2634

Nearest resistance levels:

R1 – 1.2817

R2 – 1.2878

R3 – 1.2939

Trading recommendations:

The pair GBP/USD continues its downward movement. Thus, short positions with targets at 1.2756 and 1.2695 are now relevant, before Heiken Ashi's indicator turns up, which will indicate a round of upward correction.

Buy-positions are recommended to be considered only after fixing the pair above the moving average with the first targets at 1.3000 and 1.3062. However, at the moment, the bulls are extremely weak.

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

Explanation of illustrations:

The upper linear regression channel – the blue line of the unidirectional movement.

The lower linear regression channel – the purple line of the unidirectional movement.

CCI – the blue line in the indicator regression window.

The moving average (20; smoothed) is the blue line on the price chart.

Murray levels – multi-colored horizontal stripes.

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

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Performed by Paolo Greco,
Analytical expert
InstaForex Group © 2007-2019
Benefit from analysts’ recommendations right now
Top up trading account
Get a bonus from InstaForex

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.