British Pound: GBP/USD (GBP=X) Consolidates The Corrective Bounce Amid USD Pullback – Live Trading News
GBP/US Dollar Exchange Rate
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Technical Indicators
Overall, the bias in prices is: Downwards.
The projected upper bound is: 1.30.
The projected lower bound is: 1.25.
The projected closing price is: 1.28.
Candlesticks
During the past 10 bars, there have been 5 white candles and 4 black candles for a net of 1 white candles. During the past 50 bars, there have been 29 white candles and 20 black candles for a net of 9 white candles.
A doji star occurred (where a doji gaps above or below the previous candle). This often signals a reversal with confirmation occurring on the next bar.
Momentum Indicators
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
Stochastic Oscillator
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 21.8354. This is not an overbought or oversold reading. The last signal was a buy 0 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 36.70. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 27 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -94. This is not a topping or bottoming area. The last signal was a buy 0 period(s) ago.
MACD
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 14 period(s) ago.
Rex Takasugi – TD Profile
FOREX GBP= closed up 0.000 at 1.275. Volume was 74% below average (consolidating) and Bollinger Bands were 61% wider than normal.
Open High Low Close Volume 1.275 1.276 1.274 1.275 33,934 Technical Outlook Short Term: Neutral Intermediate Term: Bearish Long Term: Bullish Moving Averages: 10-period 50-period 200-period Close: 1.28 1.30 1.27 Volatility: 8 11 14 Volume: 133,935 123,361 122,721
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
Summary
FOREX GBP= is currently 0.3% above its 200-period moving average and is in an downward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future.
Our volume indicators reflect moderate flows of volume out of GBP= (mildly bearish). Our trend forecasting oscillators are currently bearish on GBP= and have had this outlook for the last 12 periods.
