British Pound: USD/GBP (GBP=X) lower due to the rally in the US dollar
GBP/USD is also lower due to the rally in the US dollar. It was a quiet day in terms of economic indicators from the UK, so today’s move was dollar driven. The lack of clarity in relation to Brexit will continue to hang over the pound. Sterling had a subdued week, but while it holds above the 1.3000 mark, its outlook could remain positive.
Overall, the bias in prices is: Sideways.
The projected upper bound is: 1.33.
The projected lower bound is: 1.29.
The projected closing price is: 1.31.
During the past 10 bars, there have been 4 white candles and 5 black candles for a net of 1 black candles. During the past 50 bars, there have been 21 white candles and 27 black candles for a net of 6 black 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.
A long lower shadow occurred. This is typically a bullish signal (particularly when it occurs near a low price level, at a support level, or when the security is oversold).
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 26.5822. This is not an overbought or oversold reading. The last signal was a sell 6 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 51.78. 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 29 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 -66. This is not a topping or bottoming area. The last signal was a sell 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 sell 1 period(s) ago.
Rex Takasugi – TD Profile
FOREX GBP= closed down -0.000 at 1.308. Volume was 100% below average (consolidating) and Bollinger Bands were 17% wider than normal.
Open High Low Close Volume___
1.308 1.308 1.307 1.308 654
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 1.31 1.30 1.35
Volatility: 12 9 9
Volume: 164,220 167,031 163,513
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.
FOREX GBP= is currently 3.2% below its 200-period moving average and is in an upward trend. Volatility is high as compared to the average volatility over the last 10 periods. Our volume indicators reflect moderate flows of volume into GBP= (mildly bullish). Our trend forecasting oscillators are currently bullish on GBP= and have had this outlook for the last 20 periods. our momentum oscillator has set a new 14-period low while the security price has not. This is a bearish divergence.
Latest posts by HEFFX Australia (see all)
- British Pound: USD/GBP (GBP=X) to move sideways or decline in short-term - June 16, 2019
- Euro: USD/EUR (EUR=X) to be impacted by June PMIs - June 16, 2019
- Japanese Yen: USD/JPY (JPY=X) trading sideways - June 16, 2019