MG Network

something big isHappening!

In the mean time you can connect with us with via:

Copyright © Money Grows Network | Theme By Gooyaabi Templates

Money Grows Network


Powered by Blogger.

Welcome To Money Grows Network

Verified By

2006 - 2019 ©

Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.



Expert In



GBP/USD. April 30th. The trading system "Regression Channels". A new fall factor for the pound

4-hour timeframe


Technical details:

The upper linear regression channel: direction - up.

The lower linear regression channel: direction - down.

The moving average (20; smoothed) - down.

CCI: 58.3668

Preview: the pound may lose its reserve currency status after Brexit. This may cause a drop in demand among Central Banks.

The GBP/USD continues correction. While there are no new reports on Brexit, negative news continues to come in on Brexit-related topics. For example, it became known that after Brexit, many world central banks are ready to reduce the number of reserves in pounds. This is due to the same uncertainty. The Central Bank does not know what will happen to the UK economy after leaving the EU. There are already many signs of deterioration. There is every reason to assume that after Brexit, the situation will not change for the better. Moreover, there is a possibility of a "hard" gap between the EU and Britain. This means that the "extra" pounds will go to the foreign exchange market in free access, the offer will grow, and, accordingly, the British currency may even further subside in value. Thus, the pound is pressured not only by Brexit itself but also by many other factors associated with Brexit. That is why we believe that until there is a clear decision on Brexit, there is no hope for a serious strengthening of the pound. Today, for the pound, we also expect a rebound from the moving average line. No important macroeconomic reports from the UK and the US are expected today. The influence of the Foundation will be absent.

Nearest support levels:

S1 - 1.2909

S2 - 1.2878

S3 - 1.2848

Nearest resistance levels:

R1 - 1.2939

R2 - 1.3000

R3 - 1.3062

Trading recommendations:

The pair GBP/USD continues to be adjusted. Thus, after the completion of the correction, it is recommended to trade again for a fall with targets at 1.2878 and 1.2848, as the downtrend continues.

Buy positions are recommended to be considered after fixing the pair above the moving with the first targets at 1.2970 and 1.3000. Volatility on the pair remains weak, which should be taken into account when opening any positions.

In addition to the technical picture should also take into account the fundamental data and the time of their release.

Explanations for illustrations:

The upper linear regression channel is the blue lines of the unidirectional movement.

The lower 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.

The material has been provided by InstaForex Company -