empty
sp
Soporte
Apertura instantánea de la cuenta
Plataforma comercial
Depositar/Retirar

27.10.202008:32 Forex Analysis & Reviews: Brief trading recommendations for GBP/USD on 10/27/20

Exchange Rates 27.10.2020 analysis

The GBP/USD pair managed to approach the psychological level of 1.3000 yesterday, where there was a regular stop and, as a result, the price rebounded in the opposite direction.

The psychological level is a price level that ends at zero or several zeros. For example, if we are talking about the pound/dollar currency pair, then round levels are considered to be: 1.3100; 1.3000; 1.0000.

Traders pay more attention to the level with more zeros at the end of the quote. This, in turn, leads to a natural basis in the form of a stop, pullback, or correction.

In our case, the psychological level of 1.3000 acted as a support, stopping the pound to decline.

Regarding the quote's current location, you can see that although sellers have lowered the volume of sell positions, they are still available on the market; otherwise, the quote was not near the level of 1.3000.

We can assume that the risk of next rebounds from the level of 1.3000 will remain in the market, which will cause the volume of short positions to decline, as long as the quote does not consolidate below 1.2990 in the H4 time frame.

A price consolidation below 1.2990 level activates sellers to take action, which will lead to an increase in the volume of positions and movement along a downward course.

Trading forecasts can be made based on the above information:

  • Buy deals can be considered if the price is kept above the level of 1.3000, with the prospect of moving to 1.3065.
  • Sell deals are considered below the level of 1.2990, with the prospect of moving to 1.2920-1.2870.

Exchange Rates 27.10.2020 analysis

*El análisis de mercado publicado aquí tiene la finalidad de incrementar su conocimiento, más no darle instrucciones para realizar una operación.

Gven Podolsky,
Analytical expert of InstaSpot
© 2007-2025
Benefíciese de las recomendaciones de los analistas ahora mismo
Recargue su cuenta de operaciones
Abra una cuenta de operaciones

¡Los informes analíticos de InstaSpot lo mantendrá bien informado de las tendencias del mercado! Al ser un cliente de InstaSpot, se le proporciona una gran cantidad de servicios gratuitos para una operación eficiente.

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaSpot anyway.

We are sorry for any inconvenience caused by this message.