Forex Analysis & Reviews: 24.10.2022 - Analysis and trading tips...

24.10.2022 09:27 AM

Analysis and trading tips for GBP/USD on October 24

Analysis of transactions in the GBP / USD pair

The test of 1.1166 happened when the MACD line was just starting to move below zero, which was a good reason to sell. It resulted in a price decrease of over 60 pips. Sometime later, the pair tested 1.1103, but this time, the signal was to buy, which led to a 20-pip rise. Pressure returned soon after.

The latest retail sales data in the UK was disappointing, as was the public sector leverage. This is why pound is trading downwards even at the time of writing.

Today, important statistics are due in the UK, both in the services and manufacturing sectors. If the data show a decrease, pound will fall down. Even the speech of Bank of England Deputy Governor Dave Ramsden will not affect the market. In the afternoon, similar reports are expected on the US, which could prompt a further rise in dollar, provided that the figures are at a more or less acceptable level. If, for some reason, the indices start to decline, pound will rise sharply.

For long positions:

Buy pound when the quote reaches 1.1391 (green line on the chart) and take profit at the price of 1.1454 (thicker green line on the chart). Growth will occur if statistics in the UK exceed expectations. But remember that when buying, the MACD line should be above zero or is starting to rise from it.

Pound can also be bought at 1.1331, however, the MACD line should be in the oversold area as only by that will the market reverse to 1.1391 and 1.1454.

For short positions:

Sell pound when the quote reaches 1.1331 (red line on the chart) and take profit at the price of 1.1245. Pressure will return if data in the services sector indicate a slowdown or a decline. But take note that when selling, the MACD line should be below zero or is starting to move down from it.

Pound can also be sold at 1.1391, however, the MACD line should be in the overbought area, as only by that will the market reverse to 1.1331 and 1.1245.

What's on the chart:

The thin green line is the key level at which you can place long positions in the GBP/USD pair.

The thick green line is the target price, since the quote is unlikely to move above this level.

The thin red line is the level at which you can place short positions in the GBP/USD pair.

The thick red line is the target price, since the quote is unlikely to move below this level.

MACD line - when entering the market, it is important to be guided by the overbought and oversold zones.

Important: Novice traders need to be very careful when making decisions about entering the market. Before the release of important reports, it is best to stay out of the market to avoid being caught in sharp fluctuations in the rate. If you decide to trade during the release of news, then always place stop orders to minimize losses. Without placing stop orders, you can very quickly lose your entire deposit, especially if you do not use money management and trade large volumes.

And remember that for successful trading, you need to have a clear trading plan. Spontaneous trading decision based on the current market situation is an inherently losing strategy for an intraday trader.

你今天已经点赞上这篇文章了

*这里的市场分析是为了增加您对市场的了解，而不是给出交易的指示。

If you have any content questions, please contact editorial-board@instaforex.com

Forecast

该作者的更多文章

电子邮件订阅

EURUSD

Euro vs US Dollar

选择时间框架

分钟

小时

天

周

开始交易

通过InstaForex赚取加密货币汇率变动的收益。

下载MetaTrader 4并开启您的第一笔交易。

推荐文章

USD/JPY：4月23日（美國交易時段）給初學者的簡單交易技巧

GBPUSD：4月23日（美國時段）初學者交易者的簡單交易提示

EUR/USD：4月23日（美國交易時段）初學交易者的簡單交易技巧

歐元/美元。分析與預測

USD/JPY：4月23日初學者交易員的簡單交易提示。昨日外匯交易回顧

GBP/USD：4月23日新手交易者的簡單交易技巧。回顧昨日外匯交易

EUR/USD：4月23日新手交易者的簡單交易提示。昨日外匯交易回顧

4月23日初學者交易員的日內策略

石油價格下跌，特朗普怒火中燒，鮑威爾保持沉默——究竟誰會先讓步？

美元/日元: 初學交易者的簡單交易技巧 – 4月22日（美國交易時段）

Top analytics