empty
 
 
19.10.2018 07:21 AM
Forecast for GBP / USD pair on October 18, 2018

GBP / USD pair

The release of British inflation data and Angela Merkel's statement about the high probability of Brexit without a deal resulted to a decrease of sterling by 67 points. The base CPI in September was 1.9% y/y against expectations of 2.0% y/y and 2.1% y/y in August. Total CPI decreased from 2.7% y/y to 2.4% y/y but the forecast was 2.6% y/y.

The price fixed below the trend indicator line on the four-hour timeframe chart. The Marlin oscillator signal lines in negative zone on both timeframes. The immediate goal for bears is to support the balance line at daily 1.3060. Below it is the level of 1.3015, where there is a cluster of historical consolidations and turns. The third target is the minimum of October at 1.2920, and the MACD line (indicator trend line) on the daily chart also runs here.

This image is no longer relevant

This image is no longer relevant

Laurie Bailey,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback