GBP USD TECHNICAL ANALYSIS
GBP USD jumps sharply above the last record on 25.1.2018 barrier boosted by expectations that the Bank of England will raise interest rates and positive vibes from Brexit negotiations
Technical analysis:
Long-term chart is showing to us that As long as GBP USD will stay above 1.360+_ Key support the trend is up, the medium-term outlook in GBP USD will remain bullish as long Short term charts show us that As long GBP USD will stay above 1.3900+_ the trend is up
short-term support stay in 1.4230+_, resistance in 1.44+_
Further targets could hit the top at 1.55 price area!
Next Resistance area stay in 1.4350-80 + _, above this, the price GBP USD could test upper levels at 1.4560-1.4620 price area while crossing those prices will send GBP USD to the 1.4920+_ price area
Below 1.3300 price area, it could bring larger down trend resumption, while we have first to meet 1.3080. On the downside, break of 1.2840 support will indicate short-term topping. If it will fail to stay above the level, it will be turned back to the downside for 1.2640 support current
GBP/USD remains mildly on the upside.
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| GBP USD analysis |
COT position map :
we can see an interesting view from this report
The report is divided into several groups, and what is interesting is that you can see that the price of the pound from the low level of 2016 to the present is accompanied by several contradictions that are not usually seen in the foreign exchange markets and especially in the positions report
The holding of executive bodies is rising on the property over the last year – similar behavior was in March 2017 – suggesting that the pound will strengthen further against the dollar
On the other hand, the holdings of dealers (net positions) are only decreasing, which is not usually consistent with the distribution of positions, because there is always a certain balance between the two What language does not exist!
A strong player (not talking about a dealer but on a large body of course) can move the market here more easily because there is no strong second party which is very interesting
In summary, according to the picture shown, the long-term scenario for the pound is much larger right now than short, but it is enough for a big body to decide to enter a large short position to change the picture
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| GBP USD POSITION MAP |
This review does not including any document and/or file attached to it as an advice or recommendation to buy/sell securities and/or other advice