Trading recommendations for the GBPUSD currency pair – placement of trading orders April 23, 2019

For the last trading day, the currency pair pound / dollar showed a low volatility of 22 points again, continuing to stagnate in the same place. From the point of view of technical analysis, nothing has changed. The quotation continues to develop in the narrow framework of 1.2970 / 1.3000, forming an accumulation as a fact. Meanwhile, informational and news background was absent due to the celebration of Bright Monday in Britain and the European Union. The only thing that was published was the statistics on sales in the secondary housing market of the United States, where there was a decrease from 5.48M to 5.21M. However, due to the lack of trading volumes, the news did not win back.

Today, after long holidays, all market participants returned. In terms of the economic calendar, we do not have any statistics from Britain, but data on sales of new housing will be published across the States, where they again expect a decline from 667K to 647K.

United States 17:00 MSK – Sales of new housing (Mar): Prev. 667K —> 647K Forecast

Further development

Analyzing the current trading chart, we see how the bumpiness within 1.2970 / 1.3000 is maintained in the market, where the quotation closely approached the bottom of the cluster. The principle of trading with traders has not changed, the “Breakdown of the Borders” technique is used, where the waiting position is involved and precise price fixations outside the borders are tracked.

– Positions for the purchase are considered in the case of a clear price fixing higher than 1.3000, with preservation of bullish interest. The primary outlook is 1.3030-1.3050.

– Positions for sale in the case of a clear price fixing lower than 1.2970 with preservation of bearish interest. The primary perspective is 1.2960-1.3030.

In both cases, it is not the puncture that is of interest, but precisely the breakdown with clear fixation and preservation of interest.

Tq-MrtGTx5Lmzy5VZhWAxPM_v-XV_0hlATKr0OxT

Indicator Analysis

Analyzing a different sector of timeframes (TF), we see that there is a downward interest in the short, intraday and medium term. It should be understood that the price is in a range of clusters. Therefore, indicators can be changeable.

88tug3i0DVaDDA7l3pFdCx03Ndr3wVtLnLT2FtZr

Weekly volatility / Measurement of volatility: Month; Quarter; Year

Measurement of volatility reflects the average daily fluctuation, based on monthly / quarterly / year.

(April 23 was based on the time of publication of the article)

The current time volatility is 15 points. It is likely to assume that in case of a breakdown of a cluster (1.2970 / 1.3000), volatility may appear on the market.

afEFyOM-IJ53VEQh8j2bmgRe48npeE3hOE59ZX5z

Key levels

Zones of resistance: 1.3000 **; 1.3220 *; 1,3300 **; 1.3440; 1.3580 *; 1.3700

Support areas: 1.3000 **; 1.2920 *; 1.2770 (1.2720 / 1.2770) **; 1.2620; 1,2500 *; 1.2350 **.

* Periodic level

** Range Level

The material has been provided by InstaForex Company – www.instaforex.com

Source:: Trading recommendations for the GBPUSD currency pair – placement of trading orders (April 23)

Won't your trader friends like this?
InstaForex
About the Author
InstaForex brand was created in 2007 and at the moment it’s a top choice of more than 2,000,000 traders. More than 1,000 clients open accounts with InstaForex every day. All InstaForex clients get great opportunities for effective trading on the forex market, as well as on-time technical and customer support

Related Posts

Leave a Reply

*