country flagالعربية
0

GBP/USD Technical analysis 11 January 2019

2019-01-10 11:45 pm | Resource: Technical Analysis | No Views : 95

Time frame Used - four hours
The GBPUSD is moving in a sideway direction in the near term.
GBP/USD CHART
The GBP/USD is still facing resistance and selling pressure around the resistance level of 1.2816 , but it is worth noting that the GBPUSD pair has once again rebounded from the top of the Bollinger 20 moving average line , Where the GBP/USD remains in a state of confusion over the BREXIT.
  In view of the technical indicators
Both the RSI and the Stochastic are indicating signs of recovery.
Therefore, we expect that the GBP/USD will breach level of  1.2816 to upside for targeting levels of  1.2883 - 1.2950, and this scenario would fail if the GBP/USD broke the 1.2690 level down.
The alternative scenario is that the GBP/USD violent level of 1.2690 down to drop to levels of  1.2600 - 1.2525.
recommendation
Our view is neutral about GBP/USD currently.
The fundamental overview
• On the economic data level, traders will follow up on the latest news about the BREXIT, In addition to the release of several important reports with a strong impact on the pound sterling, where the British manufacturing production report will be issued on a monthly basis at 4.30 am GMT, measuring the change in the total value adjusted on the basis of inflation outputs produced by manufacturers on a monthly basis, British GDP data released on a monthly basis at 4.30 am GMT, with the change in the inflation-adjusted value of all goods and services produced by the economy.
• The US Core Consumer Price Index and the US Consumer Price Index will be released on a monthly basis at 8.30 am GMT.
Resistance: 1.2816 - 1.2883 - 1.2950
Support: 1.2690 - 1.2615 - 1.2478
Direction: sideway
Technical Analysis
Forex Analysis
Bitcoin News


Other news

GBPUSD traded higher on Friday

 British pound was trading with gains against the euro and the dollar on Friday in a new hope that it is still possible to avoid Britain leaving the EU after the EU agreed to allow the UK to delay its departure from the bloc. The United Kingdom will announce a shameful vote  British Prime Minister Teresa Mae is committed to making a meaningful vote on leaving the European Union next…

More news

Best trading brokers

All Rights Reserved
Risk Disclaimer: Trading in foreign exchange market (Forex) includes the risks and the possibility of loss. That is why we are keen on providing the highest quality news and analysis concerning the different markets traded. The opinions expressed in the site indicate the opinion of the author only and not the views of the administration or the public, knowing that errors could be encountered and there is a possibility to commit them. Before starting to trade you should carefully consider your investment objectives, and review the level of experience and risk appetite. In some cases, possible high leverage can lead to loss of funds invested, so you can not invest money that you can not handle its possible loss. You should be aware of all the risks associated with foreign exchange trading and seek for advices from an independent financial advisor if you have any doubts.TradingPekk.com does not assume any responsibility after the occurrence of financial loss to the dealer and the user carries full responsibility for the losses resulting from the use of news, analysis and data on the site.