empty
 
 

Forex Analysis & Reviews: Overview of GBP/USD on October 11th. Forecast according to the "Regression Channels". The paradoxical pound
time 11.10.2019 07:32 AM
time Relevance up to, 12.10.2019 07:27 AM

4-hour timeframe

This image is no longer relevant

Technical data:

The upper channel of linear regression: direction – up.

The lower channel of linear regression: direction – down.

The moving average (20; smoothed) – up.

CCI: 176.7742

Over the past day, the British pound rose by 250 points. Some traders might have thought this morning when they opened the terminal that London and Brussels had signed a "deal" overnight and would now part ways in peace, or that Boris Johnson has resigned as UK Prime Minister. However, nothing of the kind happened yesterday. So why did the pound soar?

Of the factors that are even remotely reminiscent of the reasons, we can single out the negotiations between Johnson and the Prime Minister of Ireland Leo Varadkar, during which the parties agreed to continue negotiations further. Both sides have traditionally noted "progress in negotiations", and, in fact, everything. Of course, the issues addressed concerned the Northern Irish border and the life of both countries on the island of Ireland after the "divorce" of the Kingdom and the Alliance. Is it this information that somehow caused traders to actively buy the pound? Because nothing else happened last night either in the UK or in the States. "Successful" – current status of the negotiations with China according to Trump? Why then did the euro currency not react to this "luck" at all? In general, it is impossible to say now exactly what led to the rise of the pound. There may be a whole set of factors, some of which may not be visible to ordinary traders. Technical reasons, the actions of major players in the foreign exchange market, rumors, insider information – all this could lead to a sharp increase in the British currency. We recommend considering the current situation from a slightly different perspective. If the rise was not a trivial accident, then there are reasons. Since the pound has risen in price, is this perhaps a good signal for Brexit? If so, in the next few days, the pound will hold on to the positions won from the dollar. If there are no positive signals, then the fall of the pound/dollar pair may resume today.

The calendar of macroeconomic events in the UK is empty today, and information about consumer confidence, which cannot be called super important even potentially, will come from across the ocean. After such a sharp increase in the pair, we expect a downward correction, and in the coming days, traders and experts will need to find out what were the true reasons for the strengthening of the British currency. If they simply do not exist, then very soon we may witness a resumption of the downward trend. There are no visible reasons for such a strong growth of the pair, as we have already said.

Nearest support levels:

S1 – 1.2421

S2 – 1.2390

S3 – 1.2360

Nearest resistance levels:

R1 – 1.2451

R2 – 1.2482

R3 – 1.2512

Trading recommendations:

The GBP/USD pair is likely to begin to adjust after yesterday's growth. In any case, without a visible fundamental background and after strengthening by 250 points, it is dangerous to buy the pound. Thus, it is recommended to wait for the market situation to calm down, and sales can be returned after fixing the bears below the moving average.

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

Explanation of the illustrations:

The upper channel of linear regression – the blue lines of the unidirectional movement.

The lower channel of linear regression – the purple lines of the unidirectional movement.

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

The moving average (20; smoothed) – blue line on the price chart.

Murray levels – multi-colored horizontal stripes.

Heiken Ashi – an indicator that colors bars in blue or purple.

Paolo Greco,
ผู้เชี่ยวชาญด้านการวิเคราะห์ของ InstaForex
© 2007-2022
ข้อดีจากการอ่านคำแนะนำของนักวิเคราะห์ได้แบบทันที
ฝากเงินเพิ่มเข้าไปในบัญชีการซื้อขาย
เปิดบัญชีการซื้อขาย

บทวิเคราะห์ของทาง InstaForex จะทำให้คุณทราบถึงแนวโน้มของตลาด! ในการที่เป็นลูกค้าของทาง InstaForex นั้นคุณจะได้รับการบริการเพื่อการซื้อขายอย่างเต็มประสิทธิภาพอย่างมากมาย

  • เทรดให้ดีแล้วคว้ารางวัล
    เติมเงินในบัญชีของคุณอย่างน้อย $500 สมัครเข้าร่วมการแข่งขัน และลุ้นรับรางวัลอุปกรณ์ติดต่อสื่อสารแบบพกพา
    เข้าร่วมการแข่งขัน
  • เฟอร์รารีจาก InstaForex
    เติมเงินในบัญชีของคุณอย่างน้อย $1,000
    เข้าร่วมการแข่งขันและรับรางวัลเป็นรถเฟอร์รารี่
    F8 Tributo
    เข้าร่วมการแข่งขัน
  • Chancy Deposit
    ฝากเงินเข้าบัญชีของคุณด้วย $3,000 และรับรางวัล $1,000
    เข้าร่วมการแข่งขัน
  • โบนัส 100%
    โอกาสพิเศษของคุณในการรับโบนัส 100% จากเงินฝากของคุณ
    รับโบนัส
  • โบนัส 55%
    สมัครรับโบนัส 55% สำหรับการฝากทุกครั้ง
    รับโบนัส
  • โบนัส 30%
    รับโบนัส 30% ทุกครั้งที่คุณเติมเงินในบัญชีของคุณ
    รับโบนัส

Recommended Stories

Ichimoku cloud indicator analysis on EURUSD for December 1st, 2022.

EURUSD is in a bullish trend according to the Ichimoku cloud indicator. Price remains above the 4hour cloud and above both the tenkan-sen (red line indicator) and the kijun-sen (yellow

Alexandros Yfantis 15:10 2022-12-01 UTC+2

Ichimoku cloud indicator analysis on Gold for November 30th, 2022.

Gold price is trading around $1,763 and is showing signs of strength. Price is breaking above the Ichimoku cloud (Kumo). The tenkan-sen (red line indicator) is crossing above the kijun-sen

Alexandros Yfantis 14:28 2022-11-30 UTC+2

Ichimoku cloud indicator analysis on EURUSD for November 30th, 2022.

EURUSD is trading around 1.0370. Price has made no real progress over the last few days as it is trapped between 1.04 and 1.03. However price has managed to stay

Alexandros Yfantis 14:04 2022-11-30 UTC+2

Ichimoku cloud indicator analysis on Gold on November 29th, 2022.

Gold price is trading around $1,750. Price has been very volatile over the last 24 hours as it has been bouncing up and down inside the range of $1,763

Alexandros Yfantis 16:55 2022-11-29 UTC+2

Ichimoku cloud indicator analysis on EURUSD on November 29th, 2022.

EURUSD remains in a bullish trend as price continues to respect the Kumo (cloud) and trades above it. We use the Ichimoku cloud indicator to identify key support and resistance

Alexandros Yfantis 16:44 2022-11-29 UTC+2

Ichimoku cloud indicator analysis on EURUSD for November 25th, 2022.

EURUSD is trading around 1.0397. Price remains above the Kumo (cloud). As we mentioned in our previous analysis, EURUSD is expected to pull back towards cloud support after the break

Alexandros Yfantis 17:47 2022-11-25 UTC+2

Ichimoku cloud indicator analysis on EURUSD for November 24th, 2022.

EURUSD has provided a new bullish signal as price has broken above the cloud and the tenkan-sen (red line indicator) has crossed above the kijun-sen (yellow line indicator). A pull

Alexandros Yfantis 15:05 2022-11-24 UTC+2

Ichimoku cloud indicator analysis on Gold for November 24th, 2022.

Gold price is trading around $1,755. Short-term trend according to the Ichimoku cloud indicator remains neutral as price is still inside the Kumo (cloud). Price is bouncing towards the upper

Alexandros Yfantis 14:57 2022-11-24 UTC+2

Ichimoku cloud analysis on USDJPY for November 23rd, 2022.

USDJPY is trading around 141.30. After getting rejected by the tenkan-sen (Red line indicator) resistance at 142.15, USDJPY has turned lower towards the lower cloud boundary. Daily trend remains neutral

Alexandros Yfantis 14:04 2022-11-23 UTC+2

Ichimoku cloud indicator analysis on Gold for November 23rd, 2022.

Gold price is trading around $1,740. In the 4 hour chart price remains inside the Kumo (cloud) and below the tenkan-sen (red line indicator). Price remains vulnerable to a pull

Alexandros Yfantis 13:47 2022-11-23 UTC+2
หากไม่สะดวกคุยในตอนนี้
ระบุคำถามไว้ได้ใน แชท.