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24.10.201816:15 Forex Analysis & Reviews: GBP / USD: plan for the American session on October 24. There is no good news about Brexit.

Long-term review
Essas informações são fornecidas a clientes profissionais e de varejo como parte da comunicação de marketing. Elas não contêm e não devem ser interpretadas como consultoria, recomendação de investimento ou uma oferta ou solicitação para se envolver em qualquer transação ou estratégia em instrumentos financeiros. O desempenho passado não é uma garantia ou previsão de desempenho futuro. A Instant Trading EU Ltd. não se responsabiliza pela exatidão ou integridade das informações fornecidas, ou por qualquer perda decorrente de qualquer investimento com base em análises, previsões ou outras informações fornecidas por um funcionário da Empresa, ou de outra forma. O termo de responsabilidade completo está disponível aqui.

To open long positions on GBP / USD, you need:

The pound continues to fall along the trend amid the lack of good news related to Brexit. At the moment, it is best to return to long positions after breaking through and fixing above the resistance level of 1.2930, which may provoke an upward correction in the area of daily highs to the area of 1.2978, where I recommend fixing the profits. In the event of a further decrease in the pound, you can buy on the rebound from the new monthly minimum in the area of 1.2872.

To open short positions on GBP / USD, you need:

The bears completed the installation in the first half of the day and broke through the support level of 1.2970, which kept the pound from a new wave of decline. At the moment, while trading is conducted below 1.2930, the pressure on GBP / USD will continue, which will lead to a test of the new monthly minimum around 1.2872, where I recommend fixing the profits. An unsuccessful attempt to get above 1.2930 will also be a signal to sell the pound. Otherwise, short positions can be opened for a rebound from the resistance of 1.2978.

Indicator signals:

Moving Averages

Trade is conducted under the 30- and 50-day average, which indicates the formation of a downtrend on the pound.

Bollinger bands

The lower limit of the Bollinger Bands indicator is broken, which indicates a bear market. In the case of an upward correction to sales, you can return with a test of the middle line of the indicator.

Exchange Rates 24.10.2018 analysis

Description of indicators

  • MA (moving average) 50 days - yellow
  • MA (moving average) 30 days - green
  • MACD: fast EMA 12, slow EMA 26, SMA 9
  • Bollinger Bands 20
Miroslaw Bawulski
Analytical expert of InstaForex
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