PAIR: GBPUSD
TECHNICAL STUDIES: DAILY PIVOT POINTS, MOVING AVERAGES, BOLLINGER BANDS, RSI, FIBONACCI RETRACEMENT
DAILY PIVOT POINTS: PP 1.5381, Price opened below PP so it is bearish.
Moving Averages 5,10&15: SMA5 1.5360, SMA10 1.5301, SMA1.5218. SMA10 is untested for 9 days.
SMA5 is straight, SMA10&15 are moving in upward direction.
Moving Averages50,100&200: SMA50&100 are supporting price and SMA200 is providing resistance and it is dropping.
Bollinger Bands: Price is above middle band, Bollinger Bands are expanding.
RSI: RSI is at 55 and droping.
Fibonacci Retracement: price is between fib 61&50%.
BIAS: Keeping in view price below PP and has opened around SMA5. SMA10 is also untested for 9 days so technically I am bearish on this pair.
FUNDAMENTAL: GBP USD NEWS
GBP:
Net Lending to individuals m/m expected 1.4B
M4 Money Supply m/m expected 0.2%
Mortgage Approvals expected 60K
CBI Realised Sales expected 11
RISK: There are some high profile news release this week and will heavily influence direction of market.
CONTACT: newtraders01@gmail.com
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