FX.co - The technical picture GBPUSD currency pair according to the "Channels regression" for July 5, 2017

5 July 2017 at 10:34AM (UTC+0)

Long-term review

4-hour timeframe

The technical picture GBPUSD currency pair according to the "Channels regression" for July 5, 2017

Technical data:

Senior channel linear regression: direction - up.

Junior channel linear regression: direction - up.

Moving average (20; smoothed) - up.

CCI: -77.0289

Explanation:

The nearest support levels:

S1 - 1,2878

S2 - 1,2817

S3 - 1,2756

The nearest resistance levels:

R1 - 1,2939

R2 - 1,3000

R3 - 1,3062

Trading recommendations:

Aside from the technical aspect, traders should also consider the fundamental data and their scheduled releases.

Explanation of illustration:

Senior channel linear regression - blue lines unidirectional movement.

Junior channel linear regression - purple line 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.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Paolo Greco

FX.co ★ The technical picture GBPUSD currency pair according to the "Channels regression" for July 5, 2017