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[QUOTE="Antony_NPBFX, post: 200198, member: 38727"] [SIZE=5][B]GBP/USD: GBP is testing 1.3600 again 08.10.2021 [/B][/SIZE] Good afternoon, dear forum visitors! [URL=http://www.npbfx.com/?utm_campaign=company&utm_medium=forumpost&utm_source=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 trading with multidirectional dynamics against USD today, holding near 1.3600, where the instrument was trying to consolidate at the beginning of the week. Market activity remains low due to the fact that investors are reluctant to open new positions ahead of the weekend and the publication of the September US labor market report. Yesterday, the instrument managed to show moderate growth and won back most of the positions it lost on Wednesday. The surge in "bullish" sentiment is partly due to some improvement in the situation with the energy crisis in Europe. After the statements of the President of the Russian Federation Vladimir Putin about the increase in supplies through the territory of Ukraine, the gas price in Europe fell by half. Another positive factor for GBP was the upbeat macroeconomic statistics from the UK. Halifax House Prices in September rose by 1.7% MoM after falling by 0.8% MoM in August. Analysts did not expect the indicator to change. Today, investors are focused on the quarterly report of the Bank of England, as well as the minutes of the regulator's meeting on the financial policy. [b] Support and resistance [/b] On the D1 chart, Bollinger Bands are gradually reversing horizontally. The price range is narrowed from above, being spacious enough for the current activity in the market. MACD indicator grows, preserving a stable buy signal (located above the signal line). Stochastic, having reached its highs, reverses downwards, reflecting the risks of overbought GBP in the ultra-short term. Resistance levels: 1.3650, 1.3700, 1.3750, 1.3800. Support levels: 1.3600, 1.3552, 1.3500, 1.3450. [img]http://businesspr-finance.com/wp-content/uploads/2021/10/GBPUSD081021-33.png[/img] [img]http://businesspr-finance.com/wp-content/uploads/2021/10/GBPUSD081021-333.png[/img] [b] Trading tips [/b] To open long positions, one can rely on the breakout of 1.3650. Take-profit – 1.3750. Stop-loss – 1.3600. Implementation time: 2-3 days. The return of a "bearish" trend with the breakdown of 1.3552 may become a signal for new sales with the target at 1.3450. Stop-loss – 1.3600. [B]Use more opportunities of the NPBFX analytical portal: glossary[/B] Beginning traders certainly face a lot of specialized concepts and lexicon on FOREX, which are often not fully been understood. Swap, tick, hedge, margin calls are often unfamiliar to beginning traders. But the lack of knowledge of these fundamentals make a competent market vision impossible. So glossary on the NPBFX analytical portal could be an excellent helper in this case, which contains all the main definitions with explanations in a compact and accessible form. All concepts are arranged in alphabetical order, so that you can easily and quickly find and explore a new concept for yourself. 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.com]NPBFX[/URL]. [/QUOTE]
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