#Technical_analysis and #Orders
Good day dear #investors and #colleagues traders!
Your attention a technical analysis of the currency pair #Gbpusd:
#Comment_to_past_week:
The currency pair was not able to take advantage of the positive macro-economic data that came out last week. # Pound paid more attention to verbal statements of politicians #Britain and #EU, which pushed him down and by the end of the week he sank 90 points (0.69%).
Many market participants expected more negative data, as they came out a month after #UK left the EU.
#Technical_analysis:
Globally (D1):
The foggy Albion currency continues to be in the downward channel. Along with this, it should be noted that the price behavior has fixed the bulls' possible hope for a change in this trend.
The currency pair went through excellent consolidation on February 20. Good growth after this consolidation and a “buyback” in the event of a pair failure in the zone 1.2890-1.2900 tells us that the bulls are currently forming a double bottom with the target of 1.3143 - 1.3184.
However, this formation is possible exclusively, provided that the pair can fix above 1.3020.
Locally: (H1-H4):
And also, this currency pair today formed an excellent picture and created an upward channel that confirms the global theory. However, even at the local level, resistance 1.2980-1.3000 plays a key role in understanding further price movement.
By tradition, we call the weekly support and resistance zones:
A) Support: 1.2852 and 1.2748.
B) Resistance: 1.3057, 1.3158 and 1.3262.
#Position_Orders:
Last week, we recommended: sale from 1.3029 and #takeprofit 1.2870 and #stoploss 1.3108 and it worked.
This week, we took a wait and see position, for a clearer understanding of the direction of movement.
Regards to subscribers,
Ltd ”Wermelgion and Partners Investment”
!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 and Partners Investment” 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.
Good day dear #investors and #colleagues traders!
Your attention a technical analysis of the currency pair #Gbpusd:
#Comment_to_past_week:
The currency pair was not able to take advantage of the positive macro-economic data that came out last week. # Pound paid more attention to verbal statements of politicians #Britain and #EU, which pushed him down and by the end of the week he sank 90 points (0.69%).
Many market participants expected more negative data, as they came out a month after #UK left the EU.
#Technical_analysis:
Globally (D1):
The foggy Albion currency continues to be in the downward channel. Along with this, it should be noted that the price behavior has fixed the bulls' possible hope for a change in this trend.
The currency pair went through excellent consolidation on February 20. Good growth after this consolidation and a “buyback” in the event of a pair failure in the zone 1.2890-1.2900 tells us that the bulls are currently forming a double bottom with the target of 1.3143 - 1.3184.
However, this formation is possible exclusively, provided that the pair can fix above 1.3020.
Locally: (H1-H4):
And also, this currency pair today formed an excellent picture and created an upward channel that confirms the global theory. However, even at the local level, resistance 1.2980-1.3000 plays a key role in understanding further price movement.
By tradition, we call the weekly support and resistance zones:
A) Support: 1.2852 and 1.2748.
B) Resistance: 1.3057, 1.3158 and 1.3262.
#Position_Orders:
Last week, we recommended: sale from 1.3029 and #takeprofit 1.2870 and #stoploss 1.3108 and it worked.
This week, we took a wait and see position, for a clearer understanding of the direction of movement.
Regards to subscribers,
Ltd ”Wermelgion and Partners Investment”
!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 and Partners Investment” 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.
