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Trading recommendations for the currency pair GBPUSD - placement of trading orders (April 30)

For the last trading day, the currency pair pound / dollar showed an extremely low volatility of 41 points, where the quotation, strictly speaking, stood still. From the point of view of technical analysis, we have a correctional phase from the value of 1.2865, where over the past day, the quotation cutting slowed down the movement within the first predicted point of 1.2935, resulting in a stagnation of 1.2915 / 1.2945. On the other hand, the information and news background did not show any activity. The last speech of the Bank of England's CEO Mark Carney made no vivid comments and was not noticed at all by the market. In turn, the popular edition of Central Banking Publications conducted a survey, where it was concluded that the pound could lose its status as a global reserve currency due to Brexit. The news background for the past day was absent.


Today, in terms of the economic calendar, it is empty again; the only thing that can be distinguished is the index of the pending sales in the US real estate market in March, where growth is expected.

Further development

Analyzing the current trading chart, we see that the quotation is still in the corrective phase, although it is clamped in a narrow range of 1.2915 / 1.2945. It is likely to assume the preservation of the current narrow amplitude, where traders occupy a waiting position, analyzing the current cluster boundaries for breakdown.


Indicator Analysis

Analyzing a different sector of timeframes (TF), we see that there was a downward interest against the background of stagnation in the short term. On the other hand, there is an upward interest against the background of the corrective phase in the intraday perspective, while the medium-term perspective maintains a downward interest on the general background of the market.


Weekly volatility / Measurement of volatility: Month; Quarter; Year

Measurement of volatility reflects the average daily fluctuation, based on the monthly / quarterly / year.

(April 30 was based on the time of publication of the article)

The current time volatility is 20 points. In the case of continued movement inside the cluster, the volatility will remain low.


Key levels

Zones of resistance: 1.3000 **; 1.3220 *; 1,3300 **; 1.3440; 1.3580 *; 1.3700

Support areas: 1.2920 * 1.2770 (1.2720 / 1.2770) **; 1.2620; 1,2500 *; 1.2350 **.

* Periodic level

** Range Level

The material has been provided by InstaForex Company -