British Pound (£) ⇨ US Dollar ($)(GBPUSD) Trading Outlook
HEFFX Notes British Pound
Overall, the bias in prices is: Downwards.
Short term: Prices are moving.
Intermediate term: Prices are ranging.
The projected upper bound is: 1.33.
The projected lower bound is: 1.27.
The projected closing price is: 1.30.
FOREX GBP= closed up 0.002 at 1.302. Volume was 94% below average (consolidating) and Bollinger Bands were 48% narrower than normal.
Open High Low Close Volume
1.299 1.302 1.299 1.302 7,170
Short Term: Oversold
Intermediate Term: Bullish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 1.32 1.32 1.40
Volatility: 15 14 18
Volume: 104,877 109,636 106,681
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 British Pound
FOREX GBP= is currently 7.2% below its 200-period moving average and is in an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. Our volume indicators reflect volume flowing into and out of GBP= at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on GBP= and have had this outlook for the last 33 periods.
HEFFX Momentum British Pound
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.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 14.4104. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a sell 7 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 40.74. 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 buy 50 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 -186.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a sell 7 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 2 period(s) ago.
Latest posts by John Heffernan (see all)
- Fortescue Metals Group Limited (ASX:FMG) Trading Outlook - July 24, 2017
- Wesfarmers Ltd (ASX:WES) Trading Outlook - July 24, 2017
- Tesla Inc (NASDAQ:TSLA) HEFFX Highlights - July 24, 2017