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Swing Trade British Pound: GBP/USD (GBP=X) with Metastock Charts

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

British Pound
Ticker: GBP=
Price: $1.3407

British Pound News

GBP/USD trades higher near 1.3414 after the better-than-expected final reading of the third-quarter UK GDP.

UK third-quarter GDP recorded 16.0 Percent QoQ growth, better than 15.5 Percent expected and higher than 15.5 Percent earlier. On an annualised basis, the change was -8.6 Percent compared to -9.6 Percent expected and -9.6 Percent previous.

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Third-quarter Current Account numbers were at -15.6 billion pounds against -11 billion pounds expected and -2.8 billion pounds earlier.

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The Total Business Investment clocked 9.4 Percent QoQ in the third quarter beating 8.8 Percent expected as well as previous.

Despite the bullish numbers, the spot was trading down 0.45 Percent near 1.3407.

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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.

The projected upper bound is: 1.36.

The projected lower bound is: 1.32.

The projected closing price is: 1.34.

Candlesticks

A white body occurred (because prices closed higher 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 26 white candles and 24 black candles for a net of 2 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 51.1060. This is not an overbought or oversold reading. The last signal was a sell 2 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 53.28. 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 90 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 sell 0 period(s) ago.

Rex Takasugi – TD Profile

FOREX GBP= closed up 0.005 at 1.341. Volume was 69% below average (consolidating) and Bollinger Bands were 23% narrower than normal.

Open    High    Low     Close     Volume
1.336   1.341   1.335   1.341     44,647
Technical Outlook
Short Term:        Neutral
Intermediate Term: Bullish
Long Term:         Bullish
Moving Averages: 10-period    50-period    200-period
Close:           1.34         1.32         1.28
Volatility:      12           10           12
Volume:          135,266      147,186      135,705

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 4.8% 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 50 periods.

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