empty
 
 

18.10.202109:40 Forex Analysis & Reviews: Hot forecast for GBP/USD on 10/18/2021

The GBPUSD pair tried to overcome the resistance area of 1.3730/1.3750 last Friday. As a result, a local puncture was obtained, but bulls did not manage to roll over the previously set correctional move in the market.

The RSI technical instrument in the four-hour period touches the overbought level of 70 for the second consecutive day, but eventually bounces off it. There is an assumption of the occurrence of a signal of a change of trading interests.

From the point of view of the Fibonacci lines, the 1.3730/1.3750 resistance area coincides with the 38.2 level. This increases the pressure on long positions.

Despite the corrective move, the downward cycle from the beginning of June remains on the market.

Expectations and prospects.

It can be assumed that the tactics of price rebound from the resistance area is still relevant in the market. In the long term, this may lead to the completion of the corrective course and, as a result, the resumption of the downward cycle.

The strategy of working on pulling down the pound's rate has a stepwise form. The first signal will appear when the price is staying below 1.3700. This will bring the quote to the local low of October 15. After that, traders are waiting for the price to stay below 1.3650, which will open the way in the direction of 1.3610-1.3570.

Comprehensive indicator analysis gives a sell signal based on a short-term period due to the price rebound from the resistance area. The indicators of technical instruments of the intraday period are focused on buying due to the current correction.

Exchange Rates 18.10.2021 analysis

*تعینات کیا مراد ہے مارکیٹ کے تجزیات یہاں ارسال کیے جاتے ہیں جس کا مقصد آپ کی بیداری بڑھانا ہے، لیکن تجارت کرنے کے لئے ہدایات دینا نہیں.

Dean Leo,
انسٹافاریکس کا تجزیاتی ماہر
© 2007-2022
Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

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.

EUR/USD breaking forecast for January 24, 2022
The euro edged up and then pulled back last Friday. The same scenario could play out today as well, with the only difference being that the euro will go down at first.
Author: Dean Leo
01:50 2022-01-24 UTC--5
3328
Hot forecast for GBP/USD on 01/21/2022
A short stagnation along the 1.3600 GBPUSD level was completed by speculative jumps, where as a result the rate dropped below the 1.3580 mark. This indicates a high interest in short positions among market participants, which may lead to a subsequent weakening of the value of the pound.
Author: Dean Leo
02:10 2022-01-21 UTC--5
5908
Red-hot forecast of EUR/USD on January 20, 2022
The single European currency has not completed a bounce yet. EUR/USD is likely to continue the upward correction today amid US macroeconomic data.
Author: Dean Leo
01:30 2022-01-20 UTC--5
4858
Show more
ابھی فوری بات نہیں کرسکتے ؟
اپنا سوال پوچھیں بذریعہ چیٹ.