Stay 
Trading Conditions
Products
Tools
4-hour timeframe
Technical details:
The senior linear regression channel: direction - up.
The junior linear regression channel: direction - down.
Moving average (20; smoothed) - down.
CCI: -123.0370
The currency pair GBP / USD on Friday, February 15, continues to fall with pleasure. Up to the lows of the year, there are only 300 points left, which is not so much for the pound sterling. The most important thing is that there are no strong corrections or downfalls for the pair. This is the movement that can lead a pound below 1.2436. Today in the UK, a report on retail sales for January will be published, forecasts predict an increase in performance, but the real values may be much worse. If these reports fail today, then traders will have another weighty reason for new pound sales. Needless to say, there is still no positive news on the subject of Brexit? If the reports on retail sales are not worse than forecasts, then perhaps the pound will get a short break, but is unlikely to be able to rise in price above the moving average. This means that the downward trend will continue. There is no positive news on Brexit, but there are negative ones. Yesterday, the British Parliament rejected Theresa May's plan to negotiate with the EU, and did not rule out the possibility of an unregulated exit from the EU. Thus, the UK can still leave the EU without any "deal", and the chances that Theresa May will still be able to carry out her plan through parliament are reduced even more.
Nearest support levels:
S1 - 1.2787
S2 - 1.2756
Nearest resistance levels:
R1 - 1.2817
R2 - 1.2848
R3 - 1.2878
Trading recommendations:
The currency pair GBP / USD continues to move down, as evidenced by the blue bars indicator Heikin Ashi. The targets for short positions now are 1.2787 and 1.2756. Today a correction is possible if the retail sales report from the UK is positive.
It is recommended to open long positions no earlier than traders overcome moving with the first target of 1.3000. From a fundamental point of view, this option is still unlikely, since we do not receive any positive news from the UK.
In addition to the technical picture should also take into account the fundamental data and the time of their release.
Explanations for illustrations:
The senior linear regression channel is blue lines of the unidirectional movement
The junior linear channel is the purple lines of the unidirectional movement.
CCI is the blue line in the indicator regression window.
The moving average (20; smoothed) is the blue line on the price chart.
Murray levels - multi-colored horizontal stripes.
Heikin Ashi is an indicator that colors bars in blue or purple.
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.
