30.01.201902:08 Forex Analysis & Reviews: Trading recommendations for the GBPUSD currency pair - placement of trading orders (January 29)

For the last trading day, the currency pair Pound / Dollar showed a low volatility of 73 points, as a result of forming a clump and pullback. From the point of view of technical analysis, we have a pulse train, where the quotation reached the level of 1.3200, after which there was a stagnation followed by a rollback. Meanwhile, the informational and news background in anticipation of the next vote in the British Parliament, where there is a question of approving or disapproving the new plan of the Theresa May Agreement. Experts are inclined to believe that Theresa's plan will fail again, although she has already made it clear that she is ready to support the amendment proposed by her party member, conservative Graham Brady, who essentially proposes to reformulate the article on backstop for Northern Ireland so that Brussels offers additional measures who could convince the most uncompromising Brexit supporters. Investors, in turn, occupy a waiting position.

Further development

Analyzing the current trading schedule, we see how the quotation, having reached the level of 1.3200, went into a stagnation stage - a rollback, as if waiting in anticipation of an important event. It is likely to assume that the uncertainty will remain, where we will further consider fixing points of 1.3230 - 1.3110.

As previously mentioned, large traders took a waiting position, while speculators are waiting for jumps.

Based on the available data, It is possible to break down a number of variations, let's consider them:

- Positions for purchase may be considered in the case of price fixing higher than 1.3230.

- It is possible to consider selling positions in the event of a rollback and fixation below 1.3110.

Indicator Analysis

Analyzing the different sector of timeframes (TF ), we see that in the short, intraday and medium term there is an upward interest against the background of the recent move. Indicators at lower TF may change in case of bumpiness.

Weekly volatility / Measurement of volatility: Month; Quarter; Year

Measurement of volatility reflects the average daily fluctuation, with the calculation for the Month / Quarter / Year.

(January 29 was based on the time of publication of the article)

The current time volatility is 39 points. It is likely to assume that due to the background information, the volatility of the current day will exceed the daily average.

Key levels

Zones of resistance: 1,3200 *; 1.3300; 1.3440 **; 1.3580 *; 1.3700

Support areas: 1.3000 ** (1.3000 / 1.3050); 1.2920 *; 1.2830 *; 1.2770 (1.2720 / 1.2770) **; 1.2620; 1.2500 *; 1.2350 **.

* Periodic level

** Range Level