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

Today is the busiest day of the week in terms of the economic calendar, the first to start is the British as it is set to publish a preliminary estimate of GDP for the second quarter and there we see a slowdown in economic growth from 1.8% to 1.4%. This is practically a slide into recession, which will not go unnoticed by market participants. Then, for the same Britain, data on industrial production will be released, where there is also a decline from 1.4% to -0.2%. Well, the news flow ends with the publication of data on producer prices in the United States, where the indicator should remain at the same level of 1.7%. In general, the British currency could be under pressure.

Exchange Rates 09.08.2019 analysis

The GBP/USD pair has not exhaustively been moving horizontally as early as the ninth day, pumping two emotions at once on market participants: Fear of uncertainty and the desire not to miss a cross.

Looking at the trading chart in general terms, we see that the main downward movement is in the consolidation phase, due to ambiguity, but the trend has been downward and remains with a periodic support point of 1.2078.

It is likely to assume that the turbulence within the boundaries of 1.2100-1.2200 (+/- 20p) will still remain for some time, where the accumulation process will get even more agitated and as a result all this will result in an uncontrolled, inertial jump. Traders, in turn, take a wait-and-see position, giving priority to the "work on the breakdown" trading method.

Specifying all of the above in trading signals:

  • We consider long positions in case of price consolidations higher than 1.2220, with the prospect of a move to 1.2250-1.2350.
  • We consider short positions in case of a clear price consolidation lower than 1.2080, with the prospect of a move to 1.2000

From the point of view of a comprehensive indicator analysis, we see that indicators on minute periods signal a purchase due to testing the lower limit of accumulation, but due to horizontal movement indicators of technical tools are variable. Intraday and medium-term periods signal a downward mood.

Exchange Rates 09.08.2019 analysis

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

Performed by Dean Leo,
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.

Show more