Analystics technical GBP - USD 09/05/2016

Analystics technical GBP - USD 09/05/2016

7 May 2016, 23:13
dedekindra
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Analystics technical GBP - USD 09/05/2016

GBPUSD in the last week have experienced price movements with candlestick formation downside channel pattern (Bearish). 
Where attenuation starts since Tuesday, 
03.05.2016 from 1.4670 level to an intraday high at 1.4768 level week (same day Tuesday, 05/03) until closing New York, 
on Friday (05/06/2016) pm at the 1.4427 level and Low level week is in the 1.4413 (same day Friday, 05/07). 
Range weekly the week yesterday of 355 pips (87 pips higher than its previous weekly range 04/25/16 - 04/29/16 amounted to 268 pips).

Fundamentally. Currency pound (GBP) finally gave up in the face of the US dollar (USD), 
after the release of employment data Uncle Sam. In fact, succeeded in winning a currency GBP The Greenback in recent weeks. 
GBP / USD has risen for three consecutive weeks. The increase is supported by the pair eased concerns over British Exit (Brexit), 
and reduced the potential for the Fed's interest rate hikes.

During this time, the issue of Brexit be the main sentiment that drives pounds. 
Because the British potentially lose up to 250 billion pounds if it is out of the EU. 
Approximately 60% of the UK's international trade is sent to the EU. 
Last poll showed if 51% of the British population want to remain in the EU, 46% want to get out and the remaining 3% did not know. 
In addition, the weakening of the GBP before The Greenback also comes as UK PMI 
manufacturing data in April fell to 49.2 from 50.7 previously. Pairing GBP / USD will be corrected in the short term. 
But during Brexit issues subside, GBP had a chance to strengthen even though at a certain limit.

For the next week there will be some important fundamentals that will be released for the UK's economic zone, including:

1.Manufacturing Production m / m Wednesday, 5/11/2016 15:30 pm.
2.BOE Inflation Report Thursday, 5/12/2016 18:00 pm.
3.MPC Official Bank Rate Votes Thursday, 5/12/2016 18:00 pm.
4.Monetary Policy Sumary Thursday, 5/12/2015 18:00 pm.
5.Official Bank Rate Thursday, 5/12/2015 18:00 pm.
6.BOE Gov Carney Speaks Thursday, 5/12/2015 18:45 pm.

Technically, for the next week, GBPUSD weakness may still be continued based on weekly candlestick formation. 

Nevertheless, you still need to watch the intraday bullish correction might take place in the Daily timeframe.

If next week's bullish breakout occurs at the level of 1.4542, the price will likely go back to the level of 1.4618 - 1.4688 - 1.4758. On the contrary, if the breakout of the bearish at 1.4410 level, then it is likely the price will resume its trend level area to the 1.4343 - 1.4273 - 1.4199.

Scenario

Recommendation Sell Limit / Sell Stop Entry Point ( Sell Limit ) 1.44937 / ( Sell Stop ) 1.44816 Stop Loss ( Stop Loss Sell Limit ) 1.45201 / ( Stop Loss Sell Stop ) 1.45052 Take Profit 1.42778 - 1.43304 Alternative Scenario Recommendation Buy Stop Entry Point 1.43808 Stop Loss 1.43534 Take Profit 1.45052 - 1.45201 NB : for investors who want to cooperate or the capital entrusted to us to manage can contact us on +6281269002724 Warning : We do not guarantee that any signal or position trading that we provide will always be correct and will always profitable. In fact in a trading, losses may occur , incorrect positioning can occur and all are part of the reality of trading and back again to discipline and trading strategies of each individual trader. Therefore , make our forex signal as a reference and Combine with technical and fundamental analysis as well as the trading strategy you have. We are not responsible for damages in any context whether it is material or non-material caused by partial or total information listed on the blog.. Recommendation Sell Limit / Sell Stop Entry Point ( Sell Limit ) 1.44937 / ( Sell Stop ) 1.44816 Stop Loss ( Stop Loss Sell Limit ) 1.45201 / ( Stop Loss Sell Stop ) 1.45052 Take Profit 1.42778 - 1.43304 Alternative Scenario Recommendation Buy Stop Entry Point 1.43808 Stop Loss 1.43534 Take Profit 1.45052 - 1.45201 NB : for investors who want to cooperate or the capital entrusted to us to manage can contact us on +6281269002724 Warning : We do not guarantee that any signal or position trading that we provide will always be correct and will always profitable. In fact in a trading, losses may occur , incorrect positioning can occur and all are part of the reality of trading and back again to discipline and trading strategies of each individual trader. Therefore , make our forex signal as a reference and Combine with technical and fundamental analysis as well as the trading strategy you have. We are not responsible for damages in any context whether it is material or non-material caused by partial or total information listed on the blog..

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