empty
 
 
11.10.2018 02:37 PM
GBP / USD Forecast for October 11, 2018

GBP / USD pair

Yesterday, the UK showed weak economic indicators for August and the US stock market lost more than 3 percent. Yet, the pound took advantage of the general weakening of the dollar while investors were assessing the criticality of the moment. The British GDP for August showed zero growth against expectations of 0.1%. The volume of production in the construction sector lost -0.7% against the forecast of -0.4%, although the actual industrial production increased by 0.2% with the expectation of 0.1%. However, the negative trade balance only increased to -11.2 billion pounds against the forecast of -10.9 billion and -10.4 billion pounds in July. Moreover, it was revised to diminish from -10.0 billion.

This image is no longer relevant

Today, the balance of house prices from RICS for September showed -2% against the forecast of + 2%. Meanwhile, the Bank of England Governor Mark Carney speaks on environmental topics in Bali.

Hence, the pound has reached a nested trend line in a large downward price channel. The signal line of the Marlin oscillator on the four-hour chart lay either in the lateral range or formed a wedge. Both of these formations warn about turning down. We accept such a scenario as the main one with a turn from 1.3240 to the target level 1.3027.

This image is no longer relevant

Nevertheless, pushing up the prices are possible The goal of such is the range of 1.3362-1.3410. In the case of a standard false breakdown in such situations, the range may not be reached. Today or later we are waiting for the price to turn down.

Laurie Bailey,
InstaForex के विश्लेषणात्मक विशेषज्ञ
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    कॉन्टेस्ट में हिस्सा लें
  • चैन्सी डिपॉजिट
    $ 3,000 के साथ अपना खाता जमा करें और प्राप्त करें $8000 अधिक!
    में मार्च हम आकर्षित करते हैं $8000 चैंसी डिपॉज़िट में
    ट्रेडिंग अकाउंट में $ 3,000 जमा करके जीतने का अवसर प्राप्त करें इस शर्त को पूरा करके आप प्रतियोगिता में भाग ले सकते हैं
    कॉन्टेस्ट में हिस्सा लें
  • ट्रेड वाइज़, विन डिवाइस
    कम से कम $500 के साथ अपने खाते में टॉप अप करें, कॉन्टेस्ट के लिए साइन अप करें और मोबाइल डिवाइस जीतने का मौका पाएं।
    कॉन्टेस्ट में हिस्सा लें
  • 100% बोनस
    अपनी जमा राशि पर 100% बोनस प्राप्त करने का आपका अनूठा अवसर
    बोनस पायें
  • 55% बोनस
    अपनी प्रत्येक डिपॉजिट पर 55% बोनस के लिए आवेदन करें
    बोनस पायें
  • 30% बोनस
    हर बार खाता टॉप अप करने पर 30% बोनस प्राप्त करें
    बोनस पायें

अनुशंसित लेख

अभी बात नहीं कर सकते?
अपना प्रश्न पूछें बातचीत.
Widget callback