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1 Control zones of GBP/USD pair 10/18/18
Yesterday, a reversal pattern was formed, which indicates a change of priority to a downward one. Any increase in...
Yesterday, a reversal pattern was formed, which indicates a change of priority to a downward one. Any increase in today's European and American sessions will be corrective. The a control zone was broken yesterday, the lower limit of which is located at the level of 1.3126. The closure of the American session was below this mark, which allows us to consider selling the instrument in any upward movement. The level of 1.3126 will be the first resistance in the way of growth, and its test can...

Yesterday, a reversal pattern was formed, which indicates a change of priority to a downward one. Any increase in today's European and American sessions will be corrective.

The a control zone was broken yesterday, the lower limit of which is located at the level of 1.3126. The closure of the American session was below this mark, which allows us to consider selling the instrument in any upward movement. The level of 1.3126 will be the first resistance in the way of growth, and its test can be used to search for favorable prices for sale.

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The first goal of the downward movement will be the weekly control zone, where the lower limit of which is at the level of 1.2995. Reaching this zone requires closing a part of the position for sale, as the likelihood of demand increases. The rest can be transferred to breakeven.

To cancel the bearish impulse, it is necessary to absorb yesterday's fall and close trades at the previous day's high. The probability of the formation of this model is 30%, which makes it auxiliary. In the case of having a long position from last week or the week before last, it is better to completely eliminate it and consider selling options.

Forex analysis 18 Oct 2018, 11:33 UTC+00
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2 GBP / USD: plan for the American session on October 18. The lack of a solution for Brexit puts pressure on the pound
There is no news on Brexit and, accordingly, there is no large buyer either, which did not allow us to consolidate...
To open long positions on GBP / USD, you need: There is no news on Brexit and, accordingly, there is no large buyer either, which did not allow us to consolidate above 1.3119 in the first half of the day. At the moment, it is best to rely on pound purchases after the formation of a false breakdown at the low of the day at 1.3075 or open long positions after updating the weekly support at 1.3032. The main task for the second half of the day will be the return and consolidation above the...

To open long positions on GBP / USD, you need:

There is no news on Brexit and, accordingly, there is no large buyer either, which did not allow us to consolidate above 1.3119 in the first half of the day. At the moment, it is best to rely on pound purchases after the formation of a false breakdown at the low of the day at 1.3075 or open long positions after updating the weekly support at 1.3032. The main task for the second half of the day will be the return and consolidation above the resistance of 1.3119, from where the maximum of 1.3152 and 1.3186, where I recommend fixing the profit.

To open short positions on GBP / USD, you need:

As long as trading is conducted below the resistance level of 1.3119, the pressure on the pound will continue. The main goal of the sellers remains at least this week 1.3075, a breakthrough of which will lead to a larger sale of GBP / USD with a minimum of 1.3032 and 1.2982, where I recommend fixing the profits. At any time, the results of the next Brexit negotiations can be published, so that we do not forget to place stop orders, since the volatility of the pound may increase significantly. In the case of an upward correction to short positions, you can again return to the false breakdown from the resistance of 1.3152 or to the rebound from 1.3186.

Indicator signals:

Moving Averages

The pair has fixed below the moving average, which indicates the formation of a downtrend.

Bollinger bands

A break of the lower limit of the Bollinger Bands indicator around 1.3078 will lead to the sale of a pound. The upper limit around 1.3134 today stands in the form of resistance.

analytics5bc87a56b027e.png

Description of indicators

  • MA (moving average) 50 days - yellow
  • MA (moving average) 30 days - green
  • MACD: fast EMA 12, slow EMA 26, SMA 9
  • Bollinger Bands 20
Forex analysis 18 Oct 2018, 10:30 UTC+00
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