Forex Analysis & Reviews: Overview of the GBP/USD pair. April 2nd. The British pound continues to ignore the fundamental background

The GBP/USD pair continues to trade in a flat over the 24-hour timeframe. We still expect movements to the south, now with targets at 1.2512 and 1.2489, and the market still extremely reluctantly buys the dollar and sells the pound, often ignoring the fundamental and macroeconomic background. Thus, first, the flat needs to end, and then analyze the technical picture for trading signals. Monday should not mislead traders into believing in the pound's decline. Explanations for illustrations: Linear regression channels - help determine the current trend. If both are directed in the same direction, it means the trend is currently strong. The moving average line (settings 20.0, smoothed) - determines the short-term trend and the direction in which trading should be conducted. Murray levels - target levels for movements and corrections. Volatility levels (red lines) - the probable price channel in which the pair will spend the next day, based on current volatility indicators. CCI indicator - its entry into the oversold zone (below -250) or overbought zone (above +250) indicates an approaching trend reversal in the opposite direction.

Analysis are provided by InstaForex.


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