Forex Analysis & Reviews: 27.09.2023 - Analysis and trading tips...

27.09.2023 08:34 AM

Analysis and trading tips for GBP/USD on September 27

Analysis of transactions and tips for trading GBP/USD

Further decline became limited because the test of 1.21657, which occurred on Tuesday afternoon, coincided with the drop of the MACD line away from zero.

Pound continued to decline due to the lack of reasons for optimism. Statements by Fed officials that interest rates could be raised further also led to sell-offs, and the empty macroeconomic calendar today will keep the chances of GBP/USD rising slim. However, the pair already show signs of being oversold, so there may be an upward spike soon.

For long positions:

Buy when pound hits 1.2160 (green line on the chart) and take profit at the price of 1.2202 (thicker green line on the chart). Growth may occur, but it will only be a small movement within a correction.

When buying, ensure that the MACD line lies above zero or just starts to rise from it. Pound can also be bought after two consecutive price tests of 1.2135, but the MACD line should be in the oversold area as only by that will the market reverse to 1.2160 and 1.2202.

For short positions:

Sell when pound reaches 1.2135 (red line on the chart) and take profit at the price of 1.2093. Pressure may increase at any moment, especially after the breakdown of another monthly low.

When selling, make sure that the MACD line lies below zero or drops down from it. Pound can also be sold after two consecutive price tests of 1.2160, but the MACD line should be in the overbought area as only by that will the market reverse to 1.2135 and 1.2093.

What's on the chart:

Thin green line - entry price at which you can buy GBP/USD

Thick green line - estimated price where you can set Take-Profit (TP) or manually fix profits, as further growth above this level is unlikely.

Thin red line - entry price at which you can sell GBP/USD

Thick red line - estimated price where you can set Take-Profit (TP) or manually fix profits, as further decline below this level is unlikely.

MACD line- it is important to be guided by overbought and oversold areas when entering the market

Important: Novice traders need to be very careful when making decisions about entering the market. Before the release of important reports, it is best to stay out of the market to avoid being caught in sharp fluctuations in the rate. If you decide to trade during the release of news, then always place stop orders to minimize losses. Without placing stop orders, you can very quickly lose your entire deposit, especially if you do not use money management and trade large volumes.

And remember that for successful trading, you need to have a clear trading plan. Spontaneous trading decision based on the current market situation is an inherently losing strategy for an intraday trader.

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*这里的市场分析是为了增加您对市场的了解，而不是给出交易的指示。

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