On Wednesday 25 September, GBPUSD shows quite a strong bullish momentum is quickly approaching its former local maximums, the pound began to recede at the end of last week, when the former growth drivers risk assets have exhausted themselves.
However, looking at the overall dynamics of the currency dollar pairs, it's easy to see a greater share of insecurities in the actions of the players. Of course, the dollar is weak, which significantly contributes to the fed and other prospects for the American economy slip into fiscal crisis, however, and in the euro area is not the best way. Apart from pressing problems on the periphery of the euro occurs slurred macroeconomic statistics and the possible future in which the ECB again resorts to nakačivaniû markets needed liquidity.
The position of the British currency against the euro and the dollar look more attractive. Relevant players to the British currency is seen by the naked eye-just take a look at the schedule. In addition, increasingly gives the impression that the pound would have grown stronger, do not bother him, the weaker euro and continued hazy Outlook for the European economy.
Macroeconomic statistics in the UK until all is in order. So, on Wednesday, 25 September, foggy Albion provided fresh data on retail sales index, according to the Confederation of British industry. In September, the index showed strong growth, rising to 34 points, against 27 last month. The result was pleasantly surprised, because analysts had expected lower rate to a high of 24 points.
Likely scenarios for future development of price movement
It is likely that the pair will demonstrate the flètovuû momentum trading. Pound has all chances to continue rising until the end of the week, however, the pair GBPUSD will hardly be able to confidently consolidate above their previous highs, at least, without the appearance of additional incentives that will be able to play into the hands of risky assets.
While it only publish pretty exciting macroeconomic statistics, among which include the third assessment of the Uk GDP for the 2 quarter of the current year, the GDP of the United States during the same period and fresh data on the State of the US labour market.
Evidence of technical indicators
The average indicator line "Bollinger bands" continues its steady growth. The price range has narrowed, reflecting an increase of flètovoj dynamics of trading in the short term. The indicator continues to recommend that hold long positions of the medium-term plan, but with the opening of the new deals clearly should be postponed.
In the meantime, the MACD is trying to develop a bearish signal (histogram is located below the signal line). It is recommended to wait for clarification of the situation, as a bearish signal does not find confirmation on the actual dynamics.
And here is the Stochastic Oscillator has managed to turn around, responding to renewed growth pounds on Wednesday, September 25. Clear indicator trading recommendations until it generates, so it is better to refrain from opening trading positions.
Current price levels
Among the strongest levels of support can be identified: 1.6080 (nearest point, is being tested at the time of writing of this publication), 1.6056, 1.6040, 1.6000 (a strong psychological barrier), 1.5962 and some others.
The next resistance are at 1.6100, 1.6140, 1.6178 (near the current local maximum) and 1.6200.
Trading recommendations
The possibility of opening long transactions worth considering after a certain break point 1.6100, followed by rebound from it as support.
If the bulls mark 1.6100 fails, you can consider the possibility of quick sales on the return of the pound to 1.6000 and below. When a certain breakdown of 1.6000, aggregate short position can be increased.
However, looking at the overall dynamics of the currency dollar pairs, it's easy to see a greater share of insecurities in the actions of the players. Of course, the dollar is weak, which significantly contributes to the fed and other prospects for the American economy slip into fiscal crisis, however, and in the euro area is not the best way. Apart from pressing problems on the periphery of the euro occurs slurred macroeconomic statistics and the possible future in which the ECB again resorts to nakačivaniû markets needed liquidity.
The position of the British currency against the euro and the dollar look more attractive. Relevant players to the British currency is seen by the naked eye-just take a look at the schedule. In addition, increasingly gives the impression that the pound would have grown stronger, do not bother him, the weaker euro and continued hazy Outlook for the European economy.
Macroeconomic statistics in the UK until all is in order. So, on Wednesday, 25 September, foggy Albion provided fresh data on retail sales index, according to the Confederation of British industry. In September, the index showed strong growth, rising to 34 points, against 27 last month. The result was pleasantly surprised, because analysts had expected lower rate to a high of 24 points.
Likely scenarios for future development of price movement
It is likely that the pair will demonstrate the flètovuû momentum trading. Pound has all chances to continue rising until the end of the week, however, the pair GBPUSD will hardly be able to confidently consolidate above their previous highs, at least, without the appearance of additional incentives that will be able to play into the hands of risky assets.
While it only publish pretty exciting macroeconomic statistics, among which include the third assessment of the Uk GDP for the 2 quarter of the current year, the GDP of the United States during the same period and fresh data on the State of the US labour market.
Evidence of technical indicators
The average indicator line "Bollinger bands" continues its steady growth. The price range has narrowed, reflecting an increase of flètovoj dynamics of trading in the short term. The indicator continues to recommend that hold long positions of the medium-term plan, but with the opening of the new deals clearly should be postponed.
In the meantime, the MACD is trying to develop a bearish signal (histogram is located below the signal line). It is recommended to wait for clarification of the situation, as a bearish signal does not find confirmation on the actual dynamics.
And here is the Stochastic Oscillator has managed to turn around, responding to renewed growth pounds on Wednesday, September 25. Clear indicator trading recommendations until it generates, so it is better to refrain from opening trading positions.
Current price levels
Among the strongest levels of support can be identified: 1.6080 (nearest point, is being tested at the time of writing of this publication), 1.6056, 1.6040, 1.6000 (a strong psychological barrier), 1.5962 and some others.
The next resistance are at 1.6100, 1.6140, 1.6178 (near the current local maximum) and 1.6200.
Trading recommendations
The possibility of opening long transactions worth considering after a certain break point 1.6100, followed by rebound from it as support.
If the bulls mark 1.6100 fails, you can consider the possibility of quick sales on the return of the pound to 1.6000 and below. When a certain breakdown of 1.6000, aggregate short position can be increased.
