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14.07.2017 11:33 AM
The technical picture of GBPUSD pair according to the "Channels regression" for July 14, 2017

4-hour timeframe

This image is no longer relevant

Technical data:

Major channel linear regression: downward direction

Minor channel linear regression: upward direction

Moving average (20; smoothed) - up.

CCI: 187.5222

Explanation:

The rate of sterling resumed the uptrend on July 14 as it sets above the moving average line.

The nearest support levels:

S1 - 1,2939

S2 - 1,2878

S3 - 1,2817

The nearest resistance levels:

R1 - 1,3000

R2 - 1,3062

R3 - 1,3123

Trading recommendations:

Based on the analysis of the GBP / USD pair, it can be concluded that it long positions can be considered with targets of 1.3000 and 1.3062 as recommended.

Aside from the technical aspect, traders should also consider the fundamental data and their scheduled releases.

Explanation of illustration:

Major channel linear regression - blue lines in unidirectional movement.

Minor channel linear regression - purple line in unidirectional movement.

CCI - blue line in the indicator window.

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

Murray levels - multicolored horizontal stripes.

Heiken Ashi - the indicator bars coloring in blue or purple.
Paolo Greco,
Analytical expert of InstaForex
© 2007-2026
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