Good afternoon, dear investors and colleagues traders!
Your attention an analytical review:#GBPUSD / #GBPUSD#2
•Technical analysis:
H1 (Technical) -H4 (indicative).
The currency pair broke through the lower border of the uptrend from May 16 to June 10. And headed to the level of 1.2346 which was support for the pound. Using it, the currency pair demonstrated a weekly high and at the same time retested the lower border of the downward channel.
In the area of 1.2530 was not only the lower border, but also an important level of resistance from the Fibonacci point of view. From this line, the bears increased their sales.
On Friday, the pound broke through another important support zone 1.2346.
Which suggests a decrease in the currency pair to the next target 1.2247.
The pair confirmed a downtrend, which is shown on the hourly, four hourly and daily charts.
Support and Resistance Levels:
a) Support: 1.2247, 1.2165.
b) Resistance: 1.2355, 1.2400 and 1.2455.
Indicative analysis provides the following information:
1. The currency pair is in the normal zone in terms of overbought / oversold, but comes close to the oversold zone.
2. The price behavior indicator shows that the price is moving within the normal movement with respect to the 4-day trend, but also approaches the lower border.
= ≥ There are no distortions in the current movements, but we approach them.
•Trading scenarios:
--- Bullish (Unlikely):
The price will be able to go beyond 1.2355 and after that the price will be able to fix above the downtrend.
In this case, you can consider the goals in 1.2540, 1.2700.
-- Bearish (Most likely):
The price will be fixed below 1.2355 in this case, the next support area will be 1.2250, in case of breaking through, the attention of the participants will shift to 1.2150.
•Global Variables:
• Volatility: Weekly = 228 points // Monthly = 304 points // Quarterly = 332 points.
(Inversion of volatility has disappeared);
• Trends:
SMA (55,100,200) continue to grow.
• Range Ratio: 230 points (Decrease from 350 points).
Best regards to followers,
"Wermelgion & Partners"
!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 & Co” 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.
Your attention an analytical review:#GBPUSD / #GBPUSD#2
•Technical analysis:
H1 (Technical) -H4 (indicative).
The currency pair broke through the lower border of the uptrend from May 16 to June 10. And headed to the level of 1.2346 which was support for the pound. Using it, the currency pair demonstrated a weekly high and at the same time retested the lower border of the downward channel.
In the area of 1.2530 was not only the lower border, but also an important level of resistance from the Fibonacci point of view. From this line, the bears increased their sales.
On Friday, the pound broke through another important support zone 1.2346.
Which suggests a decrease in the currency pair to the next target 1.2247.
The pair confirmed a downtrend, which is shown on the hourly, four hourly and daily charts.
Support and Resistance Levels:
a) Support: 1.2247, 1.2165.
b) Resistance: 1.2355, 1.2400 and 1.2455.
Indicative analysis provides the following information:
1. The currency pair is in the normal zone in terms of overbought / oversold, but comes close to the oversold zone.
2. The price behavior indicator shows that the price is moving within the normal movement with respect to the 4-day trend, but also approaches the lower border.
= ≥ There are no distortions in the current movements, but we approach them.
•Trading scenarios:
--- Bullish (Unlikely):
The price will be able to go beyond 1.2355 and after that the price will be able to fix above the downtrend.
In this case, you can consider the goals in 1.2540, 1.2700.
-- Bearish (Most likely):
The price will be fixed below 1.2355 in this case, the next support area will be 1.2250, in case of breaking through, the attention of the participants will shift to 1.2150.
•Global Variables:
• Volatility: Weekly = 228 points // Monthly = 304 points // Quarterly = 332 points.
(Inversion of volatility has disappeared);
• Trends:
SMA (55,100,200) continue to grow.
• Range Ratio: 230 points (Decrease from 350 points).
Best regards to followers,
"Wermelgion & Partners"
!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 & Co” 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.
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