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[QUOTE="Antony_NPBFX, post: 178399, member: 38727"] [size=5][b] GBP/USD: GBP shows flat dynamics 23.03.2020 [/b][/size] Good afternoon, dear forum visitors! [url= https://www.tb.marketinstructor.com/?referer1=earnforex.com] NPBFX[/url] offers the latest release of analytics on GBP/USD for a better understanding of the current market situation and more efficient trading. [b] Current trend [/b] GBP is showing uncertain growth against USD during today’s Asian session, trying to win back losses at the opening. The recovery of the instrument proceeds against the background of the growth of corrective sentiment, as investors calmed down after the active support measures undertaken by the leading regulators. Last Thursday, the Bank of England lowered rates to a record level of 0.1% and significantly expanded its quantitative easing program in an effort to minimize the damage from the coronavirus crisis. It is not yet clear how these steps will affect the UK economy, but the markets still got the main signal – politicians and economists are ready to undertake emergency measures to deal with the crisis. Last Friday’s macroeconomic statistics from the UK was ambiguous. Public Sector Net Borrowing increased from GBP –12.433B to –0.394B. However, the figure was better than the forecast of +0.85B pounds. [b] Support and resistance [/b] Bollinger Bands in D1 chart demonstrate a stable decrease. The price range is narrowing from above, remaining too spacious for the current activity level in the market. MACD indicator is reversing upwards forming a new buy signal (the histogram is about to consolidate above the signal line). Stochastic retreats from its lows, indicating the corrective growth development in the ultra-short term. The uptrend may emerge in the short and/or ultra-short term. Resistance levels: 1.1700, 1.1800, 1.2000, 1.2077. Support levels: 1.1531, 1.1409, 1.1280. [img]http://businesspr-finance.com/wp-content/uploads/2020/03/gbp-3-1.png[/img] [img]http://businesspr-finance.com/wp-content/uploads/2020/03/gbp-4-1.png[/img] [b] Trading tips [/b] To open long positions, one can rely on the breakout of 1.1700 or 1.1800. Take-profit – 1.2000, 1.2077 or 1.2200. Stop-loss – 1.1600 or 1.1531, 1.1500. Implementation time: 2-3 days. A breakdown of 1.1531 or 1.1500 may be a signal for new sales with target at 1.1280, 1.1200 or 1.1150. Stop-loss – 1.1700 or 1.1750. Implementation time: 1-2 days. [b]Use more opportunities of the NPBFX analytical portal: economic indicators [/b] Regular monitoring of global economic indicators plays an important role in trading, because of their strong influence on FOREX market and possibility to provoke significant price fluctuations. For the convenience of traders the "Education" section on the NPBFX portal contains the most popular and significant world economic indices with a detailed description, their possible impact on the economy and exchange rates (GDP, consumer price index, unemployment rate, Nonfarm Payrolls (NFP), etc.). If you have any questions about trading instruments, you can always ask an analyst in the online chat on the portal and get a free consultation of an experienced specialist. Use the current recommendations of analysts on GBP/USD and trade efficiently with [url=https://my.npbfx.com/register/?utm_campaign=register&utm_medium=forumpost&utm_source=earnforex]NPBFX[/url]. [/QUOTE]
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