empty
15.03.2019 01:38 AM
GBP/USD. March 14th. Results of the day. The market continues to focus on the British Parliament

4-hour timeframe

This image is no longer relevant

The amplitude of the last 5 days (high-low): 117p - 118p - 228p - 284p - 319p.

Average amplitude for the last 5 days: 213p (161p). The pound ended another fun day. For three days in a row, the GBP/USD pair was in a "stormy" state, the market has calmed down a bit for today, but it can still change, since the British Parliament will hold a third vote in the evening, this time on the issue of postponing the Brexit date. The most interesting thing to analyze in this situation, by and large, is nothing. The outcome of the first two polls was predicted with a 95% probability. The probability that the Parliament will approve the postponement of the exit from the EU by today and altogether is at 99%. Just because there are no other options. Nobody knows what will happen next. The situation is in a stalemate. Thus, the way out of it may be completely unexpected for everyone, since all the expected options have not brought in results. Thus, in the next few months, we can expect a repeated referendum, the formation of a new government, the dismissal of Theresa May, new negotiations with the EU, new statements by Juncker and other EU leaders to refuse to participate in new concessions to London. There are a lot of options, but now all this can be described only in one word - "chaos". To predict how the chaos will end is a thankless task. Therefore, the pound sterling is likely to continue to grow on hearsay and expectations, and could decline on frankly disappointing information. From a technical point of view, there is a new "golden cross" and a downward correction may begin. However, given the increased volatility and abrupt changes in the direction of movement in recent days, it is not recommended to rely on technical factors when making trading decisions.

Trading recommendations:

The GBP/USD currency pair could start a new round of downward movement, but to trade on technique is still not feasible at the moment, since the results of today's voting could cause a super-crazy market reaction and a sharp reversal in the opposite direction. Therefore, the best option now is to wait for the end of all voting in the British Parliament.

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

Explanation of illustration:

Ichimoku Indicator:

Tenkan-sen-red line.

Kijun-sen – blue line.

Senkou span a – light brown dotted line.

Senkou span B – light purple dotted line.

Chikou span – green line.

Bollinger Bands Indicator:

3 yellow lines.

MACD:

A red line and a histogram with white bars in the indicator window.

Paolo Greco,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

Technical Analysis of Daily Price Movement of Nasdaq 100 Index, Thursday January 04 2024.

On the daily chart, Nasdaq 100 index seems appear on the price movement and Tenkansen, Kinjun Sen, as well as Chikou Span is above the Kumo which means the Bullish

Arief Makmur 07:00 2024-01-04 UTC+2

Technical Analysis of Daily Price Movement of Nasdaq 100 Index, Thursday December 28, 2023.

With Tenkansen & Kinjunsen condition intersecting with Golden Cross above the Kumo dan Chikou Span as well as the price movement which is above the Kumo as well, then

Arief Makmur 03:59 2023-12-28 UTC+2

Technical Analysis of Daily Price Movement of GBP/AUD Cross Currency Pairs,Thursday December 21, 2023.

On the daily chart, GBP/AUD cross currency pairs seems there is the price movement below Kumo followed by the Chikou Span and Tenkansen and Kinjun Sen (Death Cross) which

Arief Makmur 06:54 2023-12-21 UTC+2

Technical Analysis of Daily Price Movement of AUD/JPY Cross Currency Pairs, Wednesday, December 20 2023.

With Tenkansen and Kinjunsen condition inside the Kumo as well as Chikou Span which is in the middle of Bar Chart, gives an indication that currently AUD/JPY is moving

Arief Makmur 08:35 2023-12-20 UTC+2

Ichimoku cloud indicator analysis on Gold for November 30th, 2023.

Gold price is trading around $2,034. Short-term trend according to the Ichimoku cloud indicator in the Daily chart remains bullish. Price is well above the Kumo (cloud)

Alexandros Yfantis 21:52 2023-11-30 UTC+2

Ichimoku cloud indicator analysis on EURUSD for November 29th, 2023.

EURUSD is trading around 1.0980. In Ichimoku cloud terms trend remains bullish. EURUSD made a high at 1.1017 and has turned lower to test the tenkan-sen (red line indicator) support

Alexandros Yfantis 13:33 2023-11-29 UTC+2

Ichimoku cloud indicator analysis on EURUSD for November 28th, 2023.

EURUSD is trading around 1.0950. In Ichimoku cloud terms in the 4 hour chart, trend remains bullish as price continues to stay above the Kumo (cloud). The Chikou span (black

Alexandros Yfantis 14:41 2023-11-28 UTC+2

Ichimoku cloud indicator analysis on USDJPY for November 28th, 2023.

USDJPY is trading around 148.43. In Ichimoku cloud terms trend is now neutral as price has entered the Daily Kumo (cloud). This is a sign of weakness. Price was unable

Alexandros Yfantis 14:37 2023-11-28 UTC+2

Ichimoku cloud indicator analysis on Gold for November 27th, 2023.

Gold price is trading above $2,010 and is making new higher highs relative to the October high. In Ichimoku cloud terms trend remains bullish. Gold price is well above

Alexandros Yfantis 14:57 2023-11-27 UTC+2

Ichimoku cloud indicator analysis on EURUSD for November 27th, 2023.

EURUSD is trading around 1.0950. In the 4 hour chart price is trading above the Ichimoku cloud (bullish). The Chikou span (black line indicator) is above the candlestick pattern (bullish)

Alexandros Yfantis 14:53 2023-11-27 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.