Technical Analysis &GBP_Index : 2020-03-09

IFC Markets

Master Trader
Oct 31, 2012
1,938
10
84
London (Great Britain)
www.ifcmarkets.com
IndicatorValueSignal
RSINeutral
MACDSell
MA(200)Sell
FractalsNeutral
Parabolic SARSell
Bollinger BandsSell
Chart Analysis
IFC Markets Tech Analysis

On the daily timeframe, GBP_Index: D1 broke down the neck line of the Head-Shoulders technical analysis pattern and a 200-day moving average line. A number of indicators of technical analysis formed signals for a further decline. We do not exclude a bearish movement if GBP_Index falls below its last lower fractal and lower Bollinger line: 1.358. We can use this level as an entry point. Stop loss is possible higher than the last upper fractal and the Parabolic signal: 1,408. After opening the pending order, we move the stop loss tracking the signals of Bollinger and Parabolic to the next fractal maximum. Thus, we change the potential profit / loss ratio in our favor. After the transaction, the most risk-averse traders can switch to a four-hour chart and set a stop loss, moving it in the direction of trend. If the price overcomes the stop level (1.408) without activating the order (1.358), it is recommended to delete the order: there are internal changes in the market that have not been taken into account.

Fundamental Analysis

In this review, we propose to consider a personal composite instrument (PCI) & GBP Index - GBP currency index. It reflects the price dynamics of the British pound GBP against a basket of major currencies. Will GBP_Index quotes decrease?