4-hour timeframe
Technical data:
Major channel linear regression: downward direction
Minor channel linear regression: upward direction
Moving average (20; smoothed) - up.
CCI: 187.5222
Explanation:
The rate of sterling resumed the uptrend on July 14 as it sets above the moving average line.
The nearest support levels:
S1 - 1,2939
S2 - 1,2878
S3 - 1,2817
The nearest resistance levels:
R1 - 1,3000
R2 - 1,3062
R3 - 1,3123
Trading recommendations:
Based on the analysis of the GBP / USD pair, it can be concluded that it long positions can be considered with targets of 1.3000 and 1.3062 as recommended.
Aside from the technical aspect, traders should also consider the fundamental data and their scheduled releases.
Explanation of illustration:
Major channel linear regression - blue lines in unidirectional movement.
Minor channel linear regression - purple line in unidirectional movement.
CCI - blue line in the indicator window.
Moving average (20; smoothed) - blue line on the chart.
Murray levels - multicolored horizontal stripes.
Heiken Ashi - the indicator bars coloring in blue or purple.
