British Pound (£) ⇨ US Dollar ($)(GBPUSD) Trading Outlook

British Pound (£) ⇨ US Dollar ($)(GBPUSD) Trading Outlook

British Pound (£) ⇨ US Dollar ($)(GBPUSD) Trading Outlook

HEFFX Notes British Pound

Overall, the bias in prices is: Downwards.

Short term: Prices are stalling.

Intermediate term: Prices are trending.

The projected upper bound is: 1.38.

The projected lower bound is: 1.25.

The projected closing price is: 1.32.

FOREX GBP= closed up 0.005 at 1.319. Volume was 20% below average (neutral) and Bollinger Bands were 42% narrower than normal.

Open      High       Low      Close      Volume
1.313       1.321      1.313      1.319      92,545

Technical Outlook
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bearish

Moving Averages: 10-period       50-period       200-period
Close:                       1.30                 1.33                  1.42
Volatility:                11                     29                     18
Volume:                   104,675          118,769            104,800

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 relatively normal as compared to the average volatility over the last 10 periods. 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 14 periods.

British Pound

England photo
Photo by trailblazer

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.

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 79.5611. This is not an overbought or oversold reading. The last signal was a sell 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 51.33. 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 31 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 124.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a buy 5 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 buy 4 period(s) ago.

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