FX.co ★ Razique | GBP/USD

Analysis of the movement of the Pound/US Dollar currency pair. Time frame – 4 hours. We will conduct an in-depth study and current analysis of the instrument’s movement, focusing on the indicators of the Extended Regression StopAndReverse, RSI, and MACD indicators, which help to carry out competent and profitable technical analysis. After receiving the desired profit, we will select the optimal exit point from the market, focusing on the nearest correction levels using the Fibonacci grid, stretched according to the current extremes (daily or weekly). On the presented chart, you can immediately note that the first-degree regression line (golden dotted line), showing the direction of the instrument and the state of the current trend in the selected time frame (time-frame H4), is directed downward at an angle of more than 30%, which emphasizes the dominant trend movement in the south side. At the same time, the nonlinear channel, which is used to predict the near future, is colored yellow-green and indicates a further decline in the instrument’s quotes, as it is directed towards the south. The price crossed the blue support line of the linear regression channel 2-nd LevelSupLine but reached the minimum value (LOW) of quotes of 1.23054, after which it stopped its decline and began to gradually grow. Currently, the instrument is trading at a price level of 1.25012. Based on all of the above, I expect market price quotes to return and consolidate above the 2-nd LevelSupLine channel line (1.26409) of the FIBO level of 50% and further movement upward to the golden average line LR of the linear channel 1.26918, coinciding with the Fibo level of 61.8 %. Auxiliary indicators RSI (14) and MACD, confirming the correct choice of entry point into the market, are in the oversold area and also show a high probability of an increase in the price of the instrument. {"data-align":"center","data-size":"custom","data-tempid":"temp_4995499_1714184668355_895","height":"340","title":"image_6882766.png","width":"850"}