Source: PaxForex Premium Analytics Portal, Technical Insight
Head of the Federal Reserve Bank of Dallas Kaplan: GDP growth should accelerate nicely in 2021:
Growth should be above trend in 2022;
The Fed's measures will undoubtedly have an impact on financial markets;
There are no systemic risks in the financial markets.
GBP/USD, 30 min
Pivot: 1.3825
Analysis:
Provided that the currency pair is traded above 1.3790, follow the recommendations below:
- Time frame: 30 min
- Recommendation: long position
- Entry point: 1.3825
- Take Profit 1: 1.3850
- Take Profit 2: 1.3875
Alternative scenario:
In case of breakdown of the level 1.3790, follow the recommendations below:
- Time frame: 30 min
- Recommendation: short position
- Entry point: 1.3790
- Take Profit 1: 1.3765
- Take Profit 2: 1.3745
Comment:
RSI shows ascending momentum during the day.
Key levels:
| Resistance | Support |
| 1.3900 | 1.3790 |
| 1.3875 | 1.3765 |
| 1.3850 | 1.3745 |
GBP/USD, D1
Pivot: 1.3810
Analysis:
While the price is above 1.3500, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.3810
- Take Profit 1: 1.4000
- Take Profit 2: 1.4280
Alternative scenario:
If the level 1.3500 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.3500
- Take Profit 1: 1.3280
- Take Profit 2: 1.3100
Comment:
RSI indicates that an uptrend continues in the medium term.
Key levels:
| Resistance | Support |
| 1.4560 | 1.3500 |
| 1.4280 | 1.3280 |
| 1.4000 | 1.3130 |
We also advise you to pay attention to the following currency pairs for intraday trading:
EUR/USD – buy above 1.2100 with 1.2160 and 1.2180 as Take Profit targets. Alternative scenario - if the level of 1.2100 is broken-down, you should consider selling with the targets 1.2085 and 1.2065 as Take Profit.
USD/CAD - short positions below 1.2720 with 1.2650 and 1.2625 targets as Take Profit. Alternative scenario - if the level of 1.2720 is broken-out, buy with the targets 1.2740 and 1.2765 as Take Profit.
NZD/USD – sell below 0.7260 with 0.7197 and 0.7180 targets as Take Profit. Alternative scenario - if the level0.7260 is broken-out, buy with the TP 0.7288 and 0.7305.
