The GBP/USD, good technical round number levels
- Thread starter fxstrategist
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victoriajensen
Private, 1st Class
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GBP/USD moved to the upside again today and reached a new high at 1.2940 before it bounced off that level. Should it break out above that high it could continue rallying towards 1.3000.
British Pound / US Dollar-GBPUSD As of 06/06/17
*** Intra-Daily Trading Strategy:SELL British Pound / US Dollar
Sell Target: 1.2870
Enter New SELL on OPEN and exit SELL positions at Target price or at Stop price.
(NOTE: Adjust Stop Loss Price according to your trading risk.)
Do not reverse after exiting. This is a recommendation for INTRA-DAY TRADING only!!!!!
A white body has formed as prices closed higher than open.
The previous 10 candlestick bars, there are 6 white candles versus 4 black candles with a net of 2 white candles.
The previous 50 candlestick bars, there are 30 white candles versus 20 black candles with a net of 10 white candles.
A doji star has formed where a doji gaps above or below the previous candle. This often signals a reversal with confirmation occurring on the next bar.MACD is BEARISH as the MACD is below the signal line.
The MACD crossed below the signal line 19 day(s) ago. Since the MACD crossed the MACD moving average, British Pound / US Dollar's price has decreased0.15%, and has been fluctuating from a high of 1.305 to a low of 1.277.
The MACD is currently not in an Overbought/Oversold range.
There have been no divergence signals during the last 5 periods.
No Stochastic Buy or Sell signals generated today. The last signal was a Buy4 Day(s) Ago.
The RSI is not currently in a topping (above 70) or bottoming (below 30) range. A buy or sell signal generated when the RSI moves out of an overbought/oversold area. The last signal was a Sell 26 day(s) ago.
Currently the RSI does not show any Failure Swings. The RSI and price of British Pound / US Dollar are not diverging.
Currently, the Momentum Oscillator does not show an overbought or oversold condition.
The last Directional Movement Indicators (DMI) signal was a BUY 5 day(s) ago.
There were no SAR signals generated today. The last SAR signal was a Sell7 day(s) ago.
The close is currently
ABOVE its 200 daily moving average
ABOVE its 50 daily moving average
ABOVE its 20 daily moving average
The current market condition for British Pound / US Dollar is Very Bullish
British Pound / US Dollar closed above the lower Bollinger Band by 48.5%. Bollinger Bands are 54.84% narrower than normal. The narrow width of the Bollinger Bands suggests low volatility as compared to British Pound / US Dollar's normal range. Therefore, the probability of volatility increasing with a sharp price move has increased for the near-term. The Bollinger Bands have been in this narrow range for 16 day(s). The probability of a significant price move increases the longer the Bollinger Bands remain in this narrow range.
*** Intra-Daily Trading Strategy:SELL British Pound / US Dollar
Sell Target: 1.2870
Enter New SELL on OPEN and exit SELL positions at Target price or at Stop price.
(NOTE: Adjust Stop Loss Price according to your trading risk.)
Do not reverse after exiting. This is a recommendation for INTRA-DAY TRADING only!!!!!
A white body has formed as prices closed higher than open.
The previous 10 candlestick bars, there are 6 white candles versus 4 black candles with a net of 2 white candles.
The previous 50 candlestick bars, there are 30 white candles versus 20 black candles with a net of 10 white candles.
A doji star has formed where a doji gaps above or below the previous candle. This often signals a reversal with confirmation occurring on the next bar.MACD is BEARISH as the MACD is below the signal line.
The MACD crossed below the signal line 19 day(s) ago. Since the MACD crossed the MACD moving average, British Pound / US Dollar's price has decreased0.15%, and has been fluctuating from a high of 1.305 to a low of 1.277.
The MACD is currently not in an Overbought/Oversold range.
There have been no divergence signals during the last 5 periods.
No Stochastic Buy or Sell signals generated today. The last signal was a Buy4 Day(s) Ago.
The RSI is not currently in a topping (above 70) or bottoming (below 30) range. A buy or sell signal generated when the RSI moves out of an overbought/oversold area. The last signal was a Sell 26 day(s) ago.
Currently the RSI does not show any Failure Swings. The RSI and price of British Pound / US Dollar are not diverging.
Currently, the Momentum Oscillator does not show an overbought or oversold condition.
The last Directional Movement Indicators (DMI) signal was a BUY 5 day(s) ago.
There were no SAR signals generated today. The last SAR signal was a Sell7 day(s) ago.
The close is currently
ABOVE its 200 daily moving average
ABOVE its 50 daily moving average
ABOVE its 20 daily moving average
The current market condition for British Pound / US Dollar is Very Bullish
British Pound / US Dollar closed above the lower Bollinger Band by 48.5%. Bollinger Bands are 54.84% narrower than normal. The narrow width of the Bollinger Bands suggests low volatility as compared to British Pound / US Dollar's normal range. Therefore, the probability of volatility increasing with a sharp price move has increased for the near-term. The Bollinger Bands have been in this narrow range for 16 day(s). The probability of a significant price move increases the longer the Bollinger Bands remain in this narrow range.
afarghaly89
Recruit
- Messages
- 1
Here is a good article of mine on the GBPUSD long term analysis... I hope this helps
https://cyclic-vibrations.com/2017/06/05/gbpusd-06052017/
https://cyclic-vibrations.com/2017/06/05/gbpusd-06052017/
I agree with your point, with UK election today, the result and market reaction towards it are unpredictable. I would be very cautions.
victoriajensen
Private, 1st Class
- Messages
- 1,117
GBP/USD is testing the support at 1.2920 and a breakout below that level is quite possible, but nothing is certain until the results of the general election in the UK come out later today.
The pound-dollar currency pair opened the day at 1.2907 on Wednesday, and by the end of the session the British currency added another 50 pips to its asset. No breakthroughs at key levels were reached. Before noon the bears reached their bottom at 1.2887. The next hour of the course gradually rose to reach a peak at 1.2965.
The pound-dollar currency pair recorded a volatile session before the parliamentary elections in the UK. The pound lost 6 pips after the opening day of the day was 1.2957, and the last day's quote remained 1.2951. Today's extreme values remained respectively at 1.2977 and bottom at 1.2907.
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