12th March 2019 - GBPUSD Tech Analysis

[Walid Salah Eldin]

GBPUSD Daily Chart:



GBPUSD extended its rebounding to 1.3288 in the Asian session, After it could form a higher low at 1.2959 on meeting with its daily SMA50 and also its daily SMA200 in the beginning of this week, while the pair is still keeping its existence above its daily SMA100.

GBPUSD could gather momentum, after easing of the selling pressure which pressed it down to 1.2959, but it still undermined by continued being below its daily Parabolic SAR (step 0.02, maximum 0.2) which is reading today 1.3307.

GBPUSD daily RSI-14 is now referring to higher existence inside the neutral area reading 60.458.

GBPUSD daily Stochastic Oscillator (5, 3, 3) which is more sensitive to the volatility is still having its main line inside its neutral territory at 64.336 leading to the upside its signal line which is lower inside this same region reading only 38.532.

This relatively big discrepancy between the leading main line and the signal line expresses about the higher momentum the pair could gain recently, After positive crossover inside the neural region on forming higher bottom at 1.2959 above its formed bottom on Feb. 14 at 1.2772.



Important levels: Daily SMA50 @ 1.2984, Daily SMA100 @ 1.2887 and Daily SMA200 @ 1.2987

Experienced S&R:

S1: 1.2959

S2: 1.2772

S3: 1.2668

R1: 1.3362

R2: 1.3472

R3: 1.3617



Kind Regards
Global Market Strategist of FX-Recommends
Walid Salah El Din

 

[Fxortrader]

GBPUSD UP TO 1.3080 ON SPECIFICATION BREXIT AGAINST VOTING PARLIAMENT

The GBPUSD moved in high volatility on Monday as traders reacted to a number of media reports ahead of the Brexit vote this week.

GBPUSD initially fell to its lowest level in three weeks at 1.2960 after a report said that Prime Minister Theresa May might be able to change the vote scheduled for Tuesday afternoon local time. UK voting against the Brexit agreement, again carried out after last January's PM May's plan was rejected by most parliamentarians.

However, The Sun newspaper, a tabloid that is read by most people in the UK, said that he was urged to lower the rating of the vote to be purely symbolic. Initially GBPUSD weakened then managed to go up to trade at the level of 1.3080.

Shortly after that a pro-defender MP Yvette Cooper from the Labor opposition party said that parliament could take over Brexit control if it failed to get consensus with its vote (PM May) on Tuesday. The comment has become one of the positive catalysts for the pound's currency movements.

Until now, a British spokesman confirmed that Tuesday's vote would still be running. The latest report is PM May traveling to Starsbourg for last-minute talks with the European Union.

 

[Walid Salah Eldin]

Anyway, i see today spike a new chance to re-sell, GBP is still having lots to be undermined, But Re-referendum as it is the best scenario for GBP and the road to re-voting on Brexit is as a road to GBP appreciation.
See what's next By God's will.
GBP trading is now 80% news trading.
Have A Good Trading Day

 

[Fxortrader]

Anyway, i see today spike a new chance to re-sell, GBP is still having lots to be undermined, But Re-referendum as it is the best scenario for GBP and the road to re-voting on Brexit is as a road to GBP appreciation.
See what's next By God's will.
GBP trading is now 80% news trading.
Have A Good Trading Day

the Brexit news is a very strong sign for the German movement, I'm sure the big movement in the GBP currency is very much later this week.

 

[Walid Salah Eldin]

Just Take Care

 

[Walid Salah Eldin]

Any Service Dear
You Just welcome
Have Good Trading Times