FX:GBPUSD   British Pound / U.S. Dollar
97 0 3
Current trend

The GBP/USD             pair has been consolidating within a narrow range. In the coming days, attention needs to be paid to macroeconomic statistics from the UK, which are expected to strengthen the Pound. At the same time, despite relatively weak data from the US, the American currency has been supported by boosted expectations that the Fed would raise interest rates this year.

Today dynamics in the pair can be influenced by the publication of data on the US Consumer Price Index for September.

Support and resistance

On the 4-hour chart, Bollinger Bands is moving up while the price range is widening. MACD histogram remains in the negative zone, its volumes are falling. Stochastic is at the border of the overbought zone and directed horizontally.

The indicators recommend long positions.

Support levels: 1.2277, 1.2261, 1.2202, 1.2172, 1.2139, 1.2102.
Resistance levels: 1.2316, 1.2339, 1.2374, 1.2406.

Trading tips

Long positions can be opened from the level of 1.2290 with the target at 1.2350 and stop-loss at 1.2265. Validity – 1-2 days.
Short positions can be opened from the level of 1.2255 with the target at 1.2205 and stop-loss at 1.2280. Validity – 1-3 days.
More analytic from LiteForex:
English https://www.liteforex.com/blog/?uid=880952068&cid=12118
Malay https://www.liteforex.my/trading/forex-analysis/?uid=880952068&cid=12118
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