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British Pound: GBP/USD (GBP=X) Trade Analysis by Metastock

$GBP #BritishPound #USD #FX #Currencies #Trading #Metastock

British Pound
Ticker: GBP=
Price: $1.3522

British Pound News

The GBP/USD pair is rising today in reaction to overnight’s Fed interest rate decision. Traders are also focusing on the upcoming decision by the Bank of England (BOE). The GBPUSD is trading at 1.3542, which is the highest it has been in years.

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What happened: Last night, the Fed delivered its rate decision. As most analysts were expecting, the bank decided to leave interest rates unchanged. It also committed to its asset purchases at a pace of $120 billion per month. But it did not give the end-period of the asset purchases.

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What next: The GBP/USD will next react to the final BOE meeting of the year. Like the Fed, economists believe that the bank will leave interest rates unchanged at 0.10%. Also, it will continue with asset purchases since it already increased the size by £150 billion in the last meeting. 

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GBP/US Dollar Exchange Rate

Today’s Forex Rates

GBP/US Dollar FX Polls

Economic Events

Technical Indicators

Overall, the bias in prices is: Upwards.

By the way, prices are vulnerable to a correction towards 1.31.

The projected upper bound is: 1.38.

The projected lower bound is: 1.33.

The projected closing price is: 1.36.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 27 white candles and 23 black candles for a net of 4 white candles.

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 87.4008. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 15 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 63.61. 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 87 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 buy 1 period(s) ago.

Rex Takasugi – TD Profile

FOREX GBP= closed down -0.003 at 1.355. Volume was 88% below average (consolidating) and Bollinger Bands were 22% narrower than normal.

Open     High     Low     Close     Volume
1.359    1.359    1.355   1.355     16,265
Technical Outlook
Short Term:        Overbought
Intermediate Term: Bullish
Long Term:         Bullish
Moving Averages: 10-period    50-period     200-period
Close:           1.34         1.32          1.28
Volatility:      11           10            13
Volume:          121,683      144,864       135,193

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 6.1% above 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 47 periods.

HEFFXhttp://www.heffx.com
HEFFX has become one of Asia’s leading financial services companies with interests in Publishing, Private Equity, Capital Markets, Mining, Retail, Transport and Agriculture that span every continent of the world. Our clearing partners have unprecedented experience in Equities, Options, Forex and Commodities brokering, banking, physical metals dealing, floor brokering and trading.

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