NPBFX - making money with us since 1996!

[Antony_NPBFX]

The impressive result of the winner and the success of other participants! We announce the results of the March "Battle of Traders" contest

Hello, dear forum users!

The attention of many participants of the Battle of Traders in the last week of March was drawn to the top lines of the contest monitoring. There was a dramatic struggle for the 1st place between several contestants. As a result, the victory with an impressive result of 6000% was achieved by the trader with the nickname alyhossny (account No.112080). The winner has received $1000 to a real NPBFX trading account and a grand prize – the brand-new iPhone Xs! Congratulations!

Who else hit top 10 of the March contest and what success have traders achieved on contest demo accounts? The best traders of the month are the contest participants with the following nicknames: alyhossny, Nyoh88, zim64, totalnetprofit, COCOEGY2019, skb, Alekskm27, ZeeNain, Hellow_55, ancelotthy.

The traders, who took the places from the 2nd to the 10th, did a great job and managed to increase the starting $5,000 by ten times. As can be seen from the summary table, someone needed only 14 trades to accomplish this, while the others used a trading strategy where the number of trades exceeded 100. It stands to mention that there are no restrictions on the use of any trading strategy in the rules of the Battle of Traders contest. Participants trade using robots, scalping, open trades in large volumes of 10 and even 30 lots.

In total, 1698 traders took part in the March contest, which exceeds the number of participants in the previous months of the trading battle.

Each of the winners have already received well-earned prize amounts to the real trading accounts: from $1,000 to $100. NPBFX thanks the traders who participated in the March contest and invites you to compete for the top places and the grand prize in the new stage of the contest in May!

Battle of Traders is an opportunity to win real money for trading on Forex without risks and investments. Sign up on the NPBFX website and become a winner!

 

[Antony_NPBFX]

AUD/USD: AUD is consolidating 06.05.2019

Good afternoon, dear forum visitors!

NPBFX offers the latest release of analytics on AUD/USD for a better understanding of the current market situation and more efficient trading.

Current trend

Today, AUD is growing moderately after the opening with a negative gap. Last Friday, the pair managed to show quite active growth, although macroeconomic statistics from Australia remained disappointing.

Building approvals in March fell by 15.5% MoM. In annual terms, the index was –27.3% YoY. Today, AUD receives moderate support from the Chinese statistics on business activity, but is under pressure from weak data from Australia. TD Securities inflation rate in April increased by 0.2% MoM, slowing down from the previous +0.4% MoM. ANZ Job Advertisements in April fell by 0.1% MoM after declining by 1.7% MoM in March. Investors are focused on tomorrow's RBA meeting on the interest rate and a block of statistics on imports/exports and retail sales in March.

Support and resistance

Bollinger Bands in D1 chart demonstrate a stable decrease. The price range is narrowing from above, reflecting ambiguous dynamics in the short term. MACD is declining keeping a weak sell signal (located below the signal line). Stochastic tends to reverse into a horizontal plane against the background of the appearance of an uptrend at the end of the last trading week.

Technical indicators do not contradict the further development of the "bearish" trend in the short and/or ultra-short term. However, there is no need to rush with the opening of new short positions.

Resistance levels: 0.7000, 0.7032, 0.7051, 0.7072.

Support levels: 0.6984, 0.6960, 0.6936, 0.6900.

Trading tips

To open long positions, one can rely on the breakout of 0.7000–0.7020. Take profit – 0.7051 or 0.7072. Stop loss — 0.7000 or 0.6980.

The rebound from 0.7000 as from resistance with the subsequent breakdown of 0.6984–0.6970 can become a signal to further sales with target at 0.6936 or 0.6900. Stop loss — 0.7000–0.7010.

Implementation time: 2-3 days.

Use more opportunities of the NPBFX analytical portal: E-book

If you just recently started to be interested in trading on FOREX and would like to deepen your knowledge, an electronic Beginner's Guide to FOREX Trading will be an excellent helper for you here. The book consists of 5 chapters and reflects fundamental concepts of the foreign exchange market to start successful trading. From the main chapters of the E-book you can learn about the concepts and history of FOREX, currencies and trend lines, technical indicators, types of orders, trading on news, psychology of trading, risk management and much more.

You can read a Beginner's guide to FOREX Trading online or download it free of charge from the NPBFX analytical portal in the "Education" section. In order to get unlimited access to the E-book and other useful instruments on the portal, you need to register on the NPBFX website.

If you have any questions about trading instruments, you can always ask an analyst in the online chat on the portal and get a free consultation of an experienced specialist.

Use the current recommendations of analysts on AUD/USD and trade efficiently with NPBFX.

 

[Antony_NPBFX]

EUR/USD: a correction 10.05.2019
Good afternoon, dear forum visitors!

NPBFX offers the latest release of analytics on EUR/USD for a better understanding of the current market situation and more efficient trading.

Current trend

Yesterday, EUR actively grew against USD, renewing local lows since the beginning of the month. EUR was supported by good Chinese macroeconomic statistics and unexpected optimism came from US President Donald Trump. After repeated threats and accusations of the Chinese side in disrupting negotiations, Trump expressed that the deal could be reached as early as this week. He said that he had received written comments from the head of the PRC, Xi Jinping, and could soon hold telephone negotiations with him. Meanwhile, April CPI in China in April rose by 0.1% MoM and 2.5% YoY, which met analysts’ expectations. Last month, the index fell by 0.4% MoM and increased by 2.3% YoY.

Today, during the Asian session, the instrument is also growing. Investors are awaiting the publication of German Trade Balance and French Industrial Production. In the United States, April statistics on Consumer Price dynamics will be released.

Support and resistance

On the daily chart, Bollinger bands reverse horizontally. The price range is consolidating, outlining an approximate flat corridor in the short/medium term. The MACD grows and keeps a strong buy signal (the histogram is above the signal line). Stochastic grows, rapidly approaching its highs, which indicates that EUR can become overbought in the super-short term.

It is better to keep current long positions in the short and/or super short term and not to open new positions.

Resistance levels: 1.1250, 1.1285, 1.1322, 1.1343.

Support levels: 1.1203, 1.1181, 1.1165, 1.1133.

Trading tips

Long positions can be opened after the breakout of 1.1250 with the targets at 1.1300–1.1322. Stop loss is 1.1225.

Short positions can be opened after the breakdown of 1.1203 with the target at 1.1133. Stop loss is 1.1230.

Implementation period: 2–3 days.

Use more opportunities of the NPBFX analytical portal: trading signals.

Make right trade decisions on sell or buy EUR/USD and other popular instruments using trading signals on the NPBFX portal. All registered users have free access to signals from the top 10 trading indicators (MA10, BBands, Ichimoku, Stochastic, ZigZag, etc.) with also general recommendations on the portal.

If you have any questions about trading instruments, you can always ask an analyst in the online chat on the portal and get a free consultation of an experienced specialist.

Use the current recommendations of analysts on EUR/USD and trade efficiently with NPBFX.

 

[Antony_NPBFX]

USD/CAD: flat dynamics 13.05.2019

Good afternoon, dear forum visitors!

NPBFX offers the latest release of analytics on USD/CAD for a better understanding of the current market situation and more efficient trading.

Current trend

On Friday, the USD/CAD pair significantly decreased, renewing local lows since the beginning of the month. At the end of the week, CAD was strongly supported by a report on the labor market published in Canada in April, which turned out to be significantly better than analysts' forecasts. Thus, the unemployment rate in April unexpectedly dropped from 5.8% to 5.7%. At the same time, the employment level in April rose sharply by 106.5K, which turned out to be 10 times better than market expectations. In February, the employment rate decreased by 7.2K jobs. The share of labor in the total population in April increased from 65.7% to 65.9%, with a constant forecast. The average hourly wage in April rose from 2.32% to 2.60%.

Support and resistance

On the daily chart, Bollinger bands are slightly reduced, tending to reverse into a horizontal plane. The price range narrows, reflecting the flat nature of trading in the short term. The MACD indicator is falling, keeping a poor sell signal (the histogram is below the signal line). Stochastic falls more confidently and is currently approximately in the center of its working area.

Current indicators’ readings do not contradict the further development of a downtrend in the short and/or super short term.

Resistance levels: 1.3443, 1.3479, 1.3500, 1.3520.

Support levels: 1.3401, 1.3375, 1.3340, 1.3320.

Trading tips

Long positions can be opened after the breakout of 1.3460–1.3470 with the targets at 1.3520–1.3540. Stop loss is 1.3443.

Short positions can be opened after the rebound from the level of 1.3443 and the breakdown of the level of 1.3420 with the target at 1.3375 or 1.3350. Stop loss is 1.3450.

Implementation period: 2–3 days.

Use more opportunities of the NPBFX analytical portal: economic indicators

Regular monitoring of global economic indicators plays an important role in trading, because of their strong influence on FOREX market and possibility to provoke significant price fluctuations. For the convenience of traders the "Education" section on the NPBFX portal contains the most popular and significant world economic indices with a detailed description, their possible impact on the economy and exchange rates (GDP, consumer price index, unemployment rate, Nonfarm Payrolls (NFP), etc.).

If you have any questions about trading instruments, you can always ask an analyst in the online chat on the portal and get a free consultation of an experienced specialist.

Use the current recommendations of analysts on USD/CAD and trade efficiently with NPBFX.

 

[Antony_NPBFX]

AUD/USD: the Australian dollar is falling 15.05.2019

Good afternoon, dear forum visitors!

NPBFX offers the latest release of analytics on AUD/USD for a better understanding of the current market situation and more efficient trading.

Current trend

AUD remains under pressure and is developing a downward trend against USD, updating local lows of the beginning of the year. The weakening of the instrument is facilitated by the tense situation around the US-China trade negotiations, which has noticeably deteriorated after the parties entered import duties against each other. The export-oriented Australian economy is very sensitive to changes in the dynamics of China's imports, so the risks for AUD also increased. Today, the pair is under pressure from the macroeconomic statistics from Australia and China. Westpac Consumer Sentiment in May slowed from +1.9% MoM to +0.6% MoM. Wage Price Index in Q1 2019 remained at the previous level of +0.5% QoQ, contrary to forecasts of growth to +0.6% QoQ. China reported a sharp slowdown in industrial production in April from +8.5 YoY to +5.4% YoY, with the forecast of +6.5% YoY.

Support and resistance

On the daily chart, Bollinger bands steadily decline. The price range expands but not as fast as the "bearish" dynamics develop. The MACD falls, keeping a relatively strong sell signal (located below the signal line). Stochastic is directed downwards but is in close proximity to its highs, which indicates that the instrument is oversold in the super short term.

It is better to keep current short positions in the short term until the situation becomes clearer.

Resistance levels: 0.6936, 0.6960, 0.6984, 0.7000.

Support levels: 0.6920, 0.6900, 0.6870.

Trading tips

Long positions can be opened after rebound from 0.6920 and a breakout of 0.6950–0.6960 with the targets at 0.7032–0.7051. Stop loss is 0.6920. Implementation period: 2–3 days.

Short positions can be opened after the breakdown of 0.6920 with the target at 0.6870 or 0.6850. Stop loss is 0.6950. Implementation period: 1–2 days.

Use more opportunities of the NPBFX analytical portal: economic calendar.

Be ready for any market changes through global events using the economic calendar on the NPBFX portal. The calendar contains all the most important events of the world economy and prognoses for them. In order to get free and unlimited access to the economic calendar and other useful instruments on the portal, you need to pass a one-time registration on the NPBFX website.

If you have any questions about trading instruments, you can always ask an analyst in the online chat on the portal and get a free consultation of an experienced specialist.

Use the current recommendations of analysts on AUD/USD and trade efficiently with NPBFX.

 

[Antony_NPBFX]

Engineer from Egypt got a victory in the March contest. Read the interview on how GBP and practice helped to win $1000 and iPhone Xs

Just a year ago he did not know what MetaTrader 4 was and also was quiet far from financial markets. An Engineer by profession, now he prefers technical analysis and pays a lot of attention to his trading practice. Meet the winner of the March “Battle of Traders” contest Ali Mohamed Ibrahim Hosny. In just a month of trading on a contest account, the trader managed to show profit of 6000%! In the interview with NPBFX, the winner shared with us his trading system, why he preferred to trade pairs with the British pound and how popular Forex is in Egypt. Egypt is where Ali lives, so the interview was in Arabic. We offer you the translation of the interview.

- Ali, could you please tell me how did you learn about the “Battle of Traders” contest and why did you decide to take part in it?

- I found out about the contest from Google search. By that time, I was looking for a suitable Forex company and learnt more and more about the Forex industry as a whole. I saw an advertisement of NPBFX and registered with the “Battle”.

- You won not only $1000, but also the NPBFX grand prize – brand new iPhone Xs!
What did you feel when you discovered that you had won?

- I was so happy, at first I could not even believe it, because the contest was challenging. But I worked really hard to win, and I am very glad that it paid off.

- The struggle between you and another participant for the first place in the March “Battle of Traders” contest was absolutely unprecedented. Did such situation motivate you to move forward or, on the contrary, made you nervous?

- This situation caused mixed feelings. At first, I was focused on staying at least in the top ten. But having achieved good results, I believed that I could even become the leader. The struggle was tough, at the very beginning I was a little nervous, but every day I gained more and more confidence.

- How often did you monitor your main competitor and the results of other participants in the monitoring of contest?

- I cannot tell you the exact number of times, but quite often.

- What trading strategy did you use to increase $5000 initial deposit by more than 60 times in a month? Please, uncover some of your trading secrets to us..

- I had a simple strategy based on technical analysis with backtesting to find favorable forecasts before making a decision to buy or sell.
In addition, I prefer manual control of each transaction. I was offered to trade robots earlier, but I refused.

- Ali, you have made over 300 trades in a contest month. Mainly there were the following currency pairs: EUR/GBP, USD/CAD, GBP/USD. What is the reason for that choice of instruments at NPBFX?

- I just simply like to trade currencies related to GBP, as I believe that these pairs are easier to predict, and some market news and online recommendations help me in trading.

- What can you say about the trading conditions and the contest itself held by NPBFX?

- The conditions are simple and I learnt a lot during the contest. I can say that trading with NPBFX is half the victory.

- How long have you been trading Forex? Why did you decide to engage in trading?

- I started trading less than a year ago. I heard a lot from others about how interesting it was, and at first I was just curious to try. Later, I decided to study the industry more closely, and now I'm on my way of becoming a professional.

- One thousand U.S. dollars have already been credited to your real NPBFX trading account. Are you going to use the same strategy on your real account, as you did on the contest one?

- Yeah, I am planning to use the same strategy, regardless of whether this account is a contest or a real one. I have my own strategy, and I believe in it.

- Could you please tell me more about yourself (where do you live, your age, occupation, family, hobbies)?

- I live in Ismailia, I am 30 years old. By profession I am an Agricultural Engineer, I like to spend my free time reading or going to the gym.

- Does your family (close people) support you in Forex trading? How did they react to your victory in the “Battle of Traders” contest?

- My close people do not give me any technical trading advice, but they encourage me to learn and make sound decisions when trading. Their concept of Forex is that trading requires a lot of free time and is fraught with the risk of losing money. They are very glad with my victory, and I notice that they would also like to try and already believe that trading is not something impossible.

- Ali, according to your observations, are modern Egyptians familiar with the Forex market? Are there forex traders among your entourage?

- It seems to me that about 30-40% to some extent knowl about the market, but only a few start trading. In my family and among my friends there are no traders, but I know several traders among my colleagues, for example.

- Would you recommend to your friends to participate in the “Battle of Traders” contest? Why?

- I would recommend them to participate, as my own experience helped me learn a lot and made it easier for me to make trading decisions. I believe if they go the same way as I do, it will lead them to success and victory.

- Do you have any comments for NPBFX?

- Remain in the same spirit, giving people the opportunity to learn and win. I love NPBFX and recommend this company to all my friends involved in trading.

- Dear Ali, we thank you for participating in the contest and the interview. We wish you new victories and achievements in the financial markets! And let trading on the real NPBFX account be as successful as on your contest one!

Yours sincerely, NPBFX

 

[Antony_NPBFX]

Who took 10 top places and who closed 6907 trades in a month? Striking the balance of the April "Battle of Traders"

Hello everyone, dear forum users!

Yet another round of the monthly “Battle of Traders” contest finished last week. What are the results in figures? Who hit the top 10? We hurry to share with you the main and most exciting information of the April contest. The last battle collected the maximum amount of the contest participants. Within the month, 1900 traders struggled for top places and the NPBFX grand prize–the brand-new iPhone Xs! Looking ahead, we note that the iPhone has not been raffled following the results of April. The winner with the nickname vovik (account No.116508) fell short in profit, while demonstrating a high level of professional skill and excellent trading result: $ 149,976 of profit! One thousand U.S. dollars have been credited to a real NPBFX trading account of the winner. Congratulations!

Only 13 deals turned out to be enough for a trader with the nickname votblin to get ahead of hundreds of opponents and get the 6th line in the contest table. The absolute record for the number of trades in April belongs to the participant with the nickname JOTA (account No.118664) – 6907 trades! The trader used automatic mode mainly with the minimum trading volume for position (0, 01 lots), which fully complies with the contest regulations.

According to the results of April, the participants of the “Battle of the Traders” with the following nicknames are announced to be the prizewinners: vovik, edwingoks, Nikolai86, sergogav, myace, votblin, Vikking, savage, Nikeset, Ramadhanfx.

Accuracy of trading forecasts, correct mathematical calculation or incredible luck? You can frame your hypotheses and draw conclusions about what has become the major factor for the winners in April, based on the statements of the participants’ contest accounts. All data is available in the open monitoring by this link. We would like to note that a number of winners in April have continued participating in the “Battle of Traders” contest and have already been actively trading in the new battle! Registration in the May contest still remains open. Hurry up to win money for real trading, as well as a grand prize–the brand-new iPhone Xs!

Register with the NPBFX website and become a winner!

 

[Antony_NPBFX]

How Brexit Favored in Hitting the First Place? Read the Interview with the Winner of the April Contest from Oryol

Everyone has their own path to victory. The path of Vladimir Anatolievich from the Russian city of Oryol was thorny. He managed to succeed in the April “Battle of Traders” contest at the third attempt. A trader with 10 years of experience, a Civil Engineer by profession–Vladimir has recently been trying to make trading Forex his primary source of revenue and not just additional one. Vladimir Anatolievich never lacks the determination to have things done, therefore he has the odds to achieve what he wants. In the interview, the winner shared how Brexit favored him in coming atop the standings, why he is keeping his victory from his family, as well as what strategy he chose to trade on a real NPBFX account. Let’s get to the interview with the winner and find out the answers to all the questions.

- Vladimir Anatolievich, please tell us how did you learn about the “Battle of Traders” contest and why did you decide to take part in it?

- I learnt about the contest through the Internet. I saw an advertisement and a link on a website. I checked the terms of the contest and decided to try. I have participated several times, but to no avail. This time everything worked out very well!

- Was the victory a surprise for you, or did you purposefully go toward it?

- I did it purposefully. I wanted to get a place, but did not think it would be the first place. In the end it turned out that I took the lead.

- What did you feel when you discovered that you had been in the top ranking spot?

- A relief ... The contest lasts for a month, and it is a strain on the nerves. I was really happy, when the company employees contacted me and said that I had taken the first place!

- Vladimir Anatolievich, did any of your relatives or friends cheered up for you?

- Well, I have not told anyone about my victory, I was afraid to jinx myself! (chuckles)

- According to the monthly monitoring, it is clear that in February and March you were not among the top ten winners. What helped not to give up and continue to participate in the April battle?

- Much of the contest depends on luck, in my opinion. If bet to the maximum, then the tiniest little mistake can deprive you of the first place, or even any prize at all. But in the third contest, everything went well for me!

- Your trading result in April is almost $ 150,000: for the month of the contest you increased the initial deposit of $ 5,000 almost by 30 times! Please tell us more about your trading system.

- My trading system is moving averages and a pair of own indicators. Basically, in the contest, I followed this trading strategy, but I also took risks.

- During April, you made 271 transactions, the vast majority of them were in the GBP/USD currency pair. How did you manage to trade the British pound so successfully, and why did you choose this instrument as the main one?

- During the contest there were a lot of news on Brexit, increased price volatility. In order to earn more, I tried to trade in pounds. The other pairs are less popular. So I chose the pound, the pound and once again the pound to take the first place! (laughs)

- Do you prefer to trade advisors/robots or “manually” manage each transaction?

- I do only “manually”. I have advisers, for example, to close orders, but everything is done manually–analyzing the market and then opening trades. I often read analytic reports in the Analytical portal, directly in the Personal Office of NPBFX.

- One thousand U.S. dollars have already been credited to your real NPBFX trading account. Are you going to use the same strategy as you did on your demo account or try another one?

- For now, I’m planning to use my strategy on a real account. Perhaps later I will make some additional adjustments. The market is changing, will see as time passes.

- How often during the month of the contest did you monitor the accounts of participants? What information did you pay the most attention to?

- The last 3-4 days of the contest I was among the leaders, at the first place. The runner-up hung behind me roughly by 40 thousand. On the last day, he placed me behind him, but for some reason, as can be seen from the monitoring, he did not close his trades. I thought I would take the second place. But then the pair rolled back. In the end, I was still in the first place.

In the past three days, I monitored almost every 5 minutes. It was so jittery.

- How do you evaluate the conditions of the "Battle of Traders" contest of NPBFX?

- Well, the terms of the contest are the same as on a real account. The only thing, you can quickly catch a stop-out, if you bet on everything. I believe that everything entirely depends on luck. You can bet on everything and win. On a real account, of course, you can’t bet it that way, because you might “throw” quickly.

- Vladimir Anatolievich, it would be interesting to learn more about you as a trader. How long have you been trading Forex? What was your professional path in the market?

- I have about 10 years of financial market experience. A friend of mine suggested me to try trading and I did and got a bit addicted to it. I trade with varying success: one day I’m in the black, another in the red. For me Forex is an additional source of revenue. I am a Civil Engineer by profession.

- Do you have any plans to change your main occupation and get by on incomes from Forex trading?

- It would be nice. I aspire to this!

- Tell us, please, what city are you from, how old are you, are you a family man, what are your hobbies besides trading?

- I am from the city of Oryol. I am 44 years old, married, have three children. Besides Forex, I like to play video games. (laughs)

- Vladimir Anatolievich, would you recommend to your friends to participate in the “Battle of Traders” contest? Why?

- Sure, I would. First, it is interesting, exciting! In addition, you can win real money on a trading account, if hit the top.

- What would you wish NPBFX and participants of the next “Battle of Traders” contests?

- Lots of luck!

- Vladimir Anatolievich, thank you for participating in the contest and for the interview. We wish you to achieve your goals at Forex!

 

[Antony_NPBFX]

XAU/USD: general analysis 24.05.2019

Good afternoon, dear forum visitors!

NPBFX offers the latest release of analytics on XAU/USD for a better understanding of the current market situation and more efficient trading.

Current trend

Gold continues to increase slightly against USD. The nearest resistance level is at 1287.37, support is at 1281.00.

According to experts, the growth of the precious metal is caused by the exacerbation of the trade conflict between the United States and China, as the instrument is used as a shelter asset. It is possible that other technology companies, such as Hikvision, will fall under the new sanctions, and the American market will be completely closed for them. In addition, White House spokesman Stephen Mnuchin said that Chinese imports will be subject to an additional tax of $300 billion but this will happen no earlier than a month later when research on the possible consequences for American consumers will be conducted. It also became known about a transfer of warships to the strait between Taiwan and China. The reaction of the PRC is still unknown. On Wednesday, the US Fed’s Meeting Minutes were published, which reflected that interest rates changes are not expected. However, the Committee will focus on economic indicators, and in case of an increase in inflationary pressure, monetary policy may be tightened.

Today, US Durable Goods Orders data will be released.

Support and resistance

Stochastic is at the level of 70 and does not give signals to open positions.

Resistance levels: 1287.37, 1295.00.

Support levels: 1281.87, 1276.50.

Trading tips

Long positions can be opened after the breakout of the level of 1287.37 with the target at 1295.00 and stop loss 1281.87.

Use more opportunities of the NPBFX analytical portal: trading signals for commodities.

How can a trader determine if it’s worth buying or selling XAU/USD now or better waiting for a more favorable period? Use trading signals for commodities from the top 10 technical indicators on the NPBFX portal and make the right decisions! All registered users have free and unlimited access to the minutely updated trading signals (MA10, BBands, Ichimoku, Stochastic, ZigZag, etc.) for Gold, Silver, Brent and WTI Crude oil.

If you have any questions about trading instruments, you can always ask an analyst in the online chat on the portal and get a free consultation of an experienced specialist.

Use the current recommendations of analysts on XAU/USD and trade efficiently with NPBFX.

 

[Antony_NPBFX]

GBP/USD: wave analysis 27.05.2019

Good afternoon, dear forum visitors!

NPBFX offers the latest release of analytics on GBP/USD for a better understanding of the current market situation and more efficient trading.

The correction ended, the pair may grow.

On the 4-hour chart, the first wave of the higher level 1 of (3) formed as a wedge, and a downward correction developed as the wave 2 of (3). Now, the wave c of 2 has formed, and the development of the third wave 3 of (3) is beginning. If the assumption is correct, the pair will grow to the levels of 1.3178–1.3377. In this scenario, critical stop loss level is 1.2600.

Main scenario

Long positions will become relevant during the correction, above the level of 1.2600 with the targets at 1.3178–1.3377. Implementation period: 7 days and more.

Alternative scenario

The breakout and the consolidation of the price below the level of 1.2600 will let the pair go down to the levels of 1.2398–1.2241.

Use more opportunities of the NPBFX analytical portal: E-book

If you just recently started to be interested in trading on FOREX and would like to deepen your knowledge, an electronic Beginner's Guide to FOREX Trading will be an excellent helper for you here. The book consists of 5 chapters and reflects fundamental concepts of the foreign exchange market to start successful trading. From the main chapters of the E-book you can learn about the concepts and history of FOREX, currencies and trend lines, technical indicators, types of orders, trading on news, psychology of trading, risk management and much more.

You can read a Beginner's guide to FOREX Trading online or download it free of charge from the NPBFX analytical portal in the "Education" section. In order to get unlimited access to the E-book and other useful instruments on the portal, you need to register on the NPBFX website.

If you have any questions about trading instruments, you can always ask an analyst in the online chat on the portal and get a free consultation of an experienced specialist.
Use the current recommendations of analysts on GBP/USD and trade efficiently with NPBFX.