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

To open long positions on GBP/USD, you need:

Data showing that the UK economy is gradually slipping into a technical recession and a reduction in industrial production were ignored by traders, as all attention is focused on the situation around Brexit. At other times, such reports would have led to the collapse of the pair. Currently, buyers are trying to grasp the resistance of 1.2241, and while trading will be conducted over this range, we can expect the continuation of the upward correction in the area of the large level of 1.2884, where I recommend taking the profits. If the bulls miss the area of 1.2241 again, and this may happen after the data on the pace of inflation growth in the United States, it is best to count on long positions after the update of this month's low in the area of 1.2197. In the case of a breakdown of this range, I recommend considering new purchases only after the test of the lows of 1.2150 and 1.2112.

To open short positions on GBP/USD, you need:

Sellers need to return to the level of 1.2241, as only after that, it will be possible to talk about the continuation of the downward movement to a minimum of 1.2197. A breakthrough of this range will also lead to the demolition of a number of stop orders, as well as increase the pressure on the pair and collapse it to the lows of 1.2150 and 1.2112, where I recommend taking the profits. However, it will be possible to count on a major bearish momentum only after the appearance of negative news on Brexit, which can serve as talks between the Prime Minister of Great Britain and the Prime Minister of Ireland today. In the scenario of further growth of the pound on weak inflation data in the United States, you can count on short positions to immediately rebound from the maximum of 1.2284 or even higher from the larger level of 1.2331.

Indicator signals:

Moving Averages

Trading is around 30 and 50 daily averages, indicating temporary market uncertainty with direction.

Bollinger Bands

A break of the lower border of the indicator at 1.2197 will increase pressure on the pound.

Exchange Rates 10.10.2019 analysis

Description of indicators

  • MA (moving average) 50 days – yellow
  • MA (moving average) 30 days – green
  • MACD: fast EMA 12, slow EMA 26, SMA 9
  • Bollinger Bands 20

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

Performed by Ruben Watson,
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.