4-hour timeframe

Technical data:

The senior channel of linear regression: direction - down.

The younger channel of linear regression: the direction is up.

The moving average (20; flattened) is up.

CCI: 89.9687

The currency pair GBP / USD on Wednesday, September 19, suspended the upward movement, but no significant reaction to the introduction of new duties against China, nor the introduction of duties against America was not followed. Today in the UK, a report on inflation in August will be published. It is expected that, in annual terms, the consumer price index will slow to 2.4%. This slightly reduces the pressure on the Bank of England, which, most recently, in the face of political crisis and uncertainty with Brexit, was forced to raise the key rate to contain inflation. Thus, while inflation keeps below 3%, the English regulator does not have much sense in the new tightening of monetary policy. The very slowdown of inflation can be interpreted in different ways, and traders are now much more interested in the topic of Brexit. Even there is no information about the trade war between China and the United States of America. Thus, the inflation report can cause a surge in volatility only if the actual value is very different from the forecast value. From a technical point of view, the upward movement may continue today, since with the opening of the European trading session, the indicator of Heikin Ashi has already turned upward. Well, before fixing the price below the removals about the descending movement, it's quite difficult to talk.

Nearest support levels:

S1 = 1.3123

S2 - 1.3062

S3 - 1,3000

Nearest resistance levels:

R1 = 1.3184

R2 = 1.3245

R3 = 1.3306

Trading recommendations:

The currency pair GBP / USD resumed its upward movement, as evidenced by Heikin Ashi. Thus, now it is recommended to open long lines with the targets of 1.3184 and 1.3245. The signal for manual closing of positions will turn Heikin Ashi turn down.

Sell-positions will become relevant only after fixing the price below the moving average line. In this case, bears can intensify and start active sales with the first goal level of Murray "5/8" - 1,3000.

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

Explanations for illustrations:

The upper channel of linear regression is the blue lines of unidirectional motion.

The junior channel is linear-violet lines of unidirectional motion.

CCI - the blue line in the regression window of the indicator.

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

Levels of Murray - multi-colored horizontal stripes.

Heikin Ashi is an indicator that color bars in blue or purple.