Hello dear investors and fellow traders!
For your attention, an analytical review of the #GBPUSD: GBPUSD # 4 currency pair.
• Commentary from last week:
In 2020, the pound became the # 1 indicator for analyzing investors' attitudes towards risk.
The pound is now under pressure from several important factors that will remain with it in the near future:
I. Gloomy macroeconomic data and uncertainty about long-term damage.
II. The reluctance of UK officials to extend the transition period during a global pandemic.
III. Limited capacity of the Bank of England.
• Technical analysis (D1):
Globally, the currency pair is in a downward channel.
The currency pair is in a triangle and at the close of Friday it is close to the upper border, which is located in the zone 1.2620-1.2720.
While the lower border of the triangle is located at 1.2400-1.2340.
This year, the strong resistance is the 200-day moving average, which has already been triggered 4 times.
At the time of this writing, 200 MA = 1.2705.
• Indicative analysis (H4):
1. 2nd MACD continues to decline.
2. RSI is in the neutral zone and does not suggest any signals.
• Technical analysis (H4-H1):
On the hourly chart, the currency pair has changed its trend to a downtrend and shows all signs of a reversal, however, short-term support at 1.2520 is working perfectly.
These bounces showed a fairly clear uptrend that runs parallel to the main trend.
• Levels:
a) Supports: 1.2520, 1.2450, 1.2320 and 1.2250.
b) Resistances: 1.2660, 1.2800.
• Forecast:
Despite the fact that we have all the signs of a trend reversal, we cannot say with certainty that a reversal has taken place. Precisely since the support at 1.2520 survived.
Thus, the trigger for making decisions will be fixing the day below 1.2520, or consolidation will lead the pair out of this support.
Regards to subscribers,
WMCI
!Attention: Trading financial instruments and (or) cryptocurrencies is fraught with high risks, including the risk of losing part or all of the investment, therefore it is not suitable for all investors. Cryptocurrency prices are extremely volatile and can change due to external factors such as financial news, legislative decisions or political events. Margin trading leads to increased financial risks.
Ltd ”Wermelgion & Co” and any provider of the data contained on this website disclaim liability for any loss or loss incurred as a result of trading transactions made with reference to the information provided.
For your attention, an analytical review of the #GBPUSD: GBPUSD # 4 currency pair.
• Commentary from last week:
In 2020, the pound became the # 1 indicator for analyzing investors' attitudes towards risk.
The pound is now under pressure from several important factors that will remain with it in the near future:
I. Gloomy macroeconomic data and uncertainty about long-term damage.
II. The reluctance of UK officials to extend the transition period during a global pandemic.
III. Limited capacity of the Bank of England.
• Technical analysis (D1):
Globally, the currency pair is in a downward channel.
The currency pair is in a triangle and at the close of Friday it is close to the upper border, which is located in the zone 1.2620-1.2720.
While the lower border of the triangle is located at 1.2400-1.2340.
This year, the strong resistance is the 200-day moving average, which has already been triggered 4 times.
At the time of this writing, 200 MA = 1.2705.
• Indicative analysis (H4):
1. 2nd MACD continues to decline.
2. RSI is in the neutral zone and does not suggest any signals.
• Technical analysis (H4-H1):
On the hourly chart, the currency pair has changed its trend to a downtrend and shows all signs of a reversal, however, short-term support at 1.2520 is working perfectly.
These bounces showed a fairly clear uptrend that runs parallel to the main trend.
• Levels:
a) Supports: 1.2520, 1.2450, 1.2320 and 1.2250.
b) Resistances: 1.2660, 1.2800.
• Forecast:
Despite the fact that we have all the signs of a trend reversal, we cannot say with certainty that a reversal has taken place. Precisely since the support at 1.2520 survived.
Thus, the trigger for making decisions will be fixing the day below 1.2520, or consolidation will lead the pair out of this support.
Regards to subscribers,
WMCI
!Attention: Trading financial instruments and (or) cryptocurrencies is fraught with high risks, including the risk of losing part or all of the investment, therefore it is not suitable for all investors. Cryptocurrency prices are extremely volatile and can change due to external factors such as financial news, legislative decisions or political events. Margin trading leads to increased financial risks.
Ltd ”Wermelgion & Co” and any provider of the data contained on this website disclaim liability for any loss or loss incurred as a result of trading transactions made with reference to the information provided.
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