FX:GBPUSD   British Pound / U.S. Dollar
21 0 2
Current trend

Last week, the GBP/USD             pair managed to strengthen amid weak US macroeconomic indicators, in particular, when Retail Sales statistics were released on Friday. However, at present, the dynamics has changed.
This week, attention needs to be paid to Producer Price Index, Retail Price Index and Consumer Price Index, due in the UK. The US, in its turn, releases Consumer Price Index. Favorable statistics may strengthen the national currencies.

NY Empire State Manufacturing Index is due today in the US. Analysts forecast a rise from -11.36 to -6.00 points. Nevertheless, the indicator does not influence much market volatility .

Support and resistance

On the daily chart , MAs with 10 and 20 periods are above the current price and directed downward. MACD histogram is in the negative zone, its volumes are growing. According to the indicators, the pair tends to decline, but no high volatility is expected today so the price is likely to trade within the range of 1.5268-1.5061, which was formed by MA10 and the lower MA of Bollinger Bands .

Support levels: 1.5061 (lower MA of Bollinger Bands ), 1.5026 (last week low).
Resistance levels: 1.5268 (last week high), 1.5292 (middle MA of Bollinger Bands ), 1.5520, 1.5821.

Trading tips

Short positions can be opened from the current level with the target at 1.5120 and stop-loss at 1.5268.
Long positions can be opened after the consolidation above the level of 1.5268 with the target at 1.5360 and stop-loss at 1.5230.
More analytic from LiteForex:
English https://www.liteforex.com/trading/forex-analysis/?uid=880952068&cid=12118
Malay https://www.liteforex.my/trading/forex-analysis/?uid=880952068&cid=12118
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out