GBPUSD - The Growing Wedge:
# Technical_analysis_and_comments:
Good day, dear investors and colleagues traders!
Your attention a technical analysis of the currency pair #Gbpusd:
The currency pair has not practically changed relative to the last close, although the pair made an attempt. The contracting range creates the classic “Growing Wedge” trading figure, which suggests a decline to 1.22-1.20.
The currency pair demonstrates the normal performance of standard indicators of price and volume.
We expect a decline to the lower border, its breakthrough and fixation under it.
This week suggests a constant news flow of macroeconomic statistics for the UK, and given global trends, they will clearly be negative.
Levels of mathematical support and resistance for the current week:
a) Support: 1.2392, 1.2280 and possibly 1.2152;
b) Resistance: 1.2634, 1.2760 and possibly 1.2874;
Market participants are strained by the growing third deficit in the UK under current conditions, but 2 negative factors can immediately add to this: uncertain Brexit and the weakness of the British economy.
Manager of WMCI Asset Management Indirect Management Fund Sergey Melnikov.
Regards to subscribers,
Ltd ”Wermelgion and Partners Investment”
Good day, dear investors and colleagues traders!
Your attention a technical analysis of the currency pair #Gbpusd:
The currency pair has not practically changed relative to the last close, although the pair made an attempt. The contracting range creates the classic “Growing Wedge” trading figure, which suggests a decline to 1.22-1.20.
The currency pair demonstrates the normal performance of standard indicators of price and volume.
We expect a decline to the lower border, its breakthrough and fixation under it.
This week suggests a constant news flow of macroeconomic statistics for the UK, and given global trends, they will clearly be negative.
Levels of mathematical support and resistance for the current week:
a) Support: 1.2392, 1.2280 and possibly 1.2152;
b) Resistance: 1.2634, 1.2760 and possibly 1.2874;
Market participants are strained by the growing third deficit in the UK under current conditions, but 2 negative factors can immediately add to this: uncertain Brexit and the weakness of the British economy.
Manager of WMCI Asset Management Indirect Management Fund Sergey Melnikov.
Regards to subscribers,
Ltd ”Wermelgion and Partners Investment”
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