In the middle of an aggressive buyout

13 December, 2018

  • Prev Open: 1.24846
  • Open: 1.26245
  • % chg. over the last day: +1.11
  • Day's range: 1.25984 – 1.26445
  • 52 wk range: 1.2480 – 1.4378

GBP/USD is in the middle of an aggressive buyout. During the last two trading days, the quotes grew by 170 pips. The Conservative Party of the UK voted on the confidence in the Prime Minister May. She was supported by 200 out of 317 conservatives and passed the votum of no confidence. The local support and resistance levels are 1.26400 and 1.27000. The trading instrument has prospects for growth.

The News Feed is calm for today.

GBP/USD

The price is testing 200 MA which is a strong dynamic resistance.

The MACD histogram is in the positive zone above the signal line, which gives a strong signal to buy GBP/USD.

Stochastic Oscillator is near the overbought zone, the %K line is above %D line, which also indicated a bullish mood.

Trading recommendations
  • Support levels: 1.26400, 1.26000, 1.25600
  • Resistance levels: 1.27000, 1.27400, 1.27800

If the price fixes above the round 1.27000, the GBP/USD quotes are expected to keep growing towards 1.27400-1.27600.

Alternatively, they can descend to 1.26000-1.25800.


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