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THE GBP/USD. January 7. The results of the day. Pound sterling offset by losses and no longer has reasons for the growth

Analytical reviews Forex 07.01.2019 at 15:57

Daily analytical reviews of the Forex market from InstaForex company

4-hour timeframe

the Amplitude of the last 5 days (high-low): 89p – 59p – 134p – 192p – 211p.

the Average amplitude over the last 5 days: 128p (137p).

the British pound sterling on Monday, January 7, also continues the recovery after the failure on 2 January. All the losses currently offset, and so on, in our opinion, the pounds will need good reasons and Foundation for continued growth. Especially when still nothing is clear with Brexit and the vote Parliament eligiblity on the bill Theresa may. Therefore, we believe that ongoing local maxima can occur in reverse with a reduction at least in the region of the critical line. As far as the fundamental background, the Friday report, by the way, very important, did not exert any influence on the movement of the pair. Most of the reports are from the United States was very strong, however, is another strengthening of the dollar we saw the British pound, which could be caused only by necessity to cover the loss from 2 numbers. Now, when these losses are closed and new reasons for the strengthening of the pound no, traders can again start to moderate purchases of U.S. currency. As it became known, the vote for Brexit will take place on 15 January, so for another week the pound will remain in limbo. Accordingly, it is unlikely for this week traders will actively buy the pound, not having any grounds. No new data on topics of Brexit and the possible departure of Jerome Powell from his post there. Powell said Friday that he intends not to leave, but as we wrote earlier, with a strong desire trump can find a way to legitimate displacement by the fed. However, while it's just talk.

Trading recommendations:

GBP/USD continues upward movement, which may well end in the near future. Formally, the goal for longs is now the resistance level 1,2877, and until MACD is directed upward, a buy order can be maintained.

a sell Order, consider not earlier the price fixing below Kijun-sen. But even in this case is not expected for the downside movement below the support level 1,2499, which remains a local minimum.

in Addition to the technical picture should also consider the fundamental reports and time of their release.

trading recommendations:

Ichimoku:

Tenkan-sen – red line.

the Kijun-sen – blue line.

the Senkou span a – light brown dotted line.

the Senkou span B – light purple dotted line.

the Chinkou span – green line.

the Indicator Bollinger bands:

3 yellow lines.

MACD:

the Red line and the histogram with white bars in the indicators ' window.The material has been provided by InstaForex company - www.instaforex.com