BOE GBP INDEX closed down -2.000 at 79.800. Volume was 8,900% above average (trending) and Bollinger Bands were 123% wider than normal.
Open High Low Close Volume___
80.400 80.400 79.800 79.800 4
Short Term: Oversold
Intermediate Term: Bearish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 85.05 86.10 88.48
Volatility: 46 23 14
Volume: 0 0 0
Short-term GBP 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.
BOE GBP INDEX gapped down today (bearish) on heavy volume. Possibility of a Breakaway Gap which usually signifies the beginning of a major market move. Four types of price gaps exist – Common, Breakaway, Runaway, and Exhaustion.
Gaps acts as support/resistance.
BOE GBP INDEX is currently 9.8% below its 200-period moving average and is in an downward 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 very strong flows of volume out of GBP (bearish).
Our trend forecasting oscillators are currently bearish on GBP and have had this outlook for the last 1 periods. Our momentum oscillator is currently indicating that GBP is currently in an oversold condition.
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 15.0838. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a sell 1 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 26.56. This is where it usually bottoms. The RSI usually forms tops and bottoms before the underlying security. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 87 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 -235.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a sell 1 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 1 period(s) ago.
Latest posts by John Heffernan (see all)
- HANG SENG INDEX (INDEXHANGSENG:HSI) Hong Kong HEFFX Outlook - December 5, 2016
- SSE Composite Index (SHA:000001) HEFFX Outlook Shanghai - December 5, 2016
- Euro (€) ⇨ US Dollar ($)(EURUSD) HEFFX Outlook - December 5, 2016