Here is the MACD technical indicator. As we can see the blue and red line have crossed leaving the blue line top giving bulls the power. This suggests that long term target is 1.37 and potentially 1.44 therefore looking for a long investment is the better option on GBP currently. Of course things can still change if brexit doesn’t get sorted out by January.
Technical indicators change overtime, that doesn't guarantee anything. Best thing to do is to look at the chart and make a technical analysis of the chart not the indicator.
Not a critique, just a tip.
Seezak
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Correct
sguinzo
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@RandyFuego, Hi Randy, it's called indicator because try to show the way, but you know, every indicator mark something has happened before. This is the mean why we use, just for an idea of what will happen. Not a critique. Cheers..
sinmipillot
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Hello, thanks for your efforts. Now the support for GBPUSD is broken. Where do you think the next support would be?
Seezak
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Next major support is 1.2580. I will post analysis soon
sinmipillot
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@Seezak, thank you. I am already on a sell. I just wanna know if I should get out of the sell or i should stay in till it get to the support.
Seezak
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@sinmipillot I would advice you to close shorts. Long term Trend has now changed to bullish.
sinmipillot
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@Seezak, Thank you so much for replying me. From your new post, you mentioned that we can bounce the trendline (Blue line) which is around 1.27400. With respect, can I not close the short around the bounce area and LONG BUY around there?
Seezak
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Yes absolutely. Keep in mind the trend line keeps moving up.
Not a critique, just a tip.