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Monday, 24 February 19:44 (GMT -05:00)

Foreign exchange market

What will be the volatility of GBPUSD?



Despite the overall volatility surge, GBPUSD keeps staying within the 1.5976-1.6197 range as the intraday bias is still neutral.
As it was mentioned earlier, if the support at 1.5962 stays unbroken there will be no confirmation of any trend reversal, which will leave the bias neutral. A firm break below 1.5962 (group support level) will confirm the termination of the entire upsurge from 1.5343 with further decline down to the support trend-line at 1.5752.
If the price settles below the mentioned support line, the rally from 1.4230 will be over and the downward movement will get a new target set at the level of 1.5343.
An upward movement breaking below 1.6097 will reverse the trend and will set the price target at the level of 1.6343.
Movement layouts. Daily-H1-M15. GBP/USD. March 17th 2011.
1. Upward scenario (CP1-CP2-CP3)
Support level: 1.5982 is critical for this variant of movement. A breakout of it cancels the scenario.
Resistance levels:
Volatility indicator “Saks Channel”: 1.6050 - 1.6118 - 1.6186.
Local high: 1.6198. BUY target grid of the basic indicator: 1.6115 - 1.6147 - 1.6200.
2. Flat scenario (Flat-zone):
Support level: 1.6198 .
Resistance level: 1.5975.
For the flattish movement scenario these levels are critical. If there is flat widening, the levels may see false breakouts. However, the deviation mustn’t exceed 161.8% - 1.5837. Therefore, in this case the price mustn’t come out of the buy-zone or sell-zone. The 161.8% support level inside the buy-zone and the 161.8% resistance level inside the sell-zone are critical for this scenario and cancel it once violated. The variant is currently not considered as the level has been broken.
3. Downward scenario (CP1-CP2-CP3)
Resistance level: 1.6044 is critical for this variant of movement. A breakout of it cancels the scenario.
Support levels:
Volatility indicator “Saks Channel”: 1.5982 - 1.5914.
Local low: 1.5975. ( Daily). SELL target grid of the basic indicator: 1.6034 - 1.5995 - 1.5932.


курс фунта


The analytics and wave layouts are provided by the Department of GTMT, Masterforex-V Academy.




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