For Traders

Analytical Reviews

Technical analysis

17.05.202213:06 Forex Analysis & Reviews: Technical review for GBP/USD: a local increase is possible

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

GBP/USD is likely to increase, thanks to growing risk appetite, strong data on jobless claims and good wage level in the UK. A noticeable local growth is very plausible.

Technical picture:

The quote is currently above the upper line of the Bollinger indicator, above the SMA 5 and SMA 14. The relative strength index (RSI) is also above 50% and is growing steadily, while the stochastic indicator is in the overbought zone and is indicating a likely slowdown of growth.

Possible dynamics:

A consolidation above 1.2385 may lead to a limited growth to 1.2480.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.