GBP/USD Technical Analysis

The pair is moving away from the highs.

Technical Analysis
18 Jan 2018
GBP/USD Technical Analysis

Today we expect the release of data from the US on housing and the index of manufacturing activity from the Federal Reserve Bank of Philadelphia for January, which is forecasted to be less than the previous month. Given the massive sell-off of the dollar by investors, we can assume that this trend will be maintained. The dollar index has only moved away from 3-year lows and at the moment we are seeing correction in the markets.

At the moment, our pair is fixed under the level of 1.39 and, if we consider our chart from the graphical analysis, we can see the formation of a "head and shoulders" pattern. However, given the fundamental factors, we expect the pound to strengthen, as negotiations for Brexit advance and the slowdown in the US economy continues.

Therefore, we can consider this orientation of our pair as a correction and further expect the pair to grow.

Our trading advice is to look for points to enter long positions after the correction is completed. However, if you get to a short position, the exit points will be near the 1.3810 and 1.3750 levels.

SuperForex
GOLD: Short Review & Forecast

Technical Analysis

GOLD: Short Review & Forecast

Investors are back to the safe assets. It's time for the deals to BUY.

SuperForex
17 Jan 2018
AUD/USD Technical Analysis

Technical Analysis

AUD/USD Technical Analysis

The price is undergoing a correction.

SuperForex
16 Jan 2018
USD/CAD Technical Analysis

Technical Analysis

USD/CAD Technical Analysis

We expect a bearish trend with this pair.

SuperForex
15 Jan 2018