Trading recommendations for the GBPUSD currency pair - placement of trading orders (March 26)

For the last trading day, the Pound / Dollar currency pair showed a low volatility of 86 points, resulting in stagnation in the market. From the point of view of technical analysis, we see that the quotation reached the previously passed cluster of 1.3220 after the corrective movement, where it slowed down and formed a stagnation of 1.3170 / 1.3220. Meanwhile, the information and news background does not let go of the prolonged Brexit. This time, the House of Commons of the British Parliament spoke in favor of holding a series of votes on various alternatives to the draft agreement on Brexit terms. The amendment does not specify exactly which alternatives will be offered to deputies, who should have received the right to independently determine the agenda of the parliament in order to consider various proposals concerning the situation around Brexit this Wednesday. What exactly voting options are waiting for us, so this is a way out without a deal, a second referendum, and cancellation of Brexit. At the same time, three high-ranking officials resigned yesterday: Deputy Minister for Business and Industry Richard Harrington, Minister for the Affairs of the Middle East and North Africa Alistair Bert, and Deputy Minister of Health Steve Brine. To put it bluntly, the Parliament of Britain removes Theresa May from actions and plans to take steps herself.

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In terms of the economic calendar, we see only statistics on the start of new construction in the United States, where there is a staggering decline from 18.6% to -28.3% (February). In any case, traders need to understand that tomorrow is a meeting in the British Parliament, and many are waiting for various names and bursts of information.

Further development

Analyzing the current trading chart, we see a compression of 1.3170 / 1.3220, where traders tritely wait for further information regarding Brexit. Thus, we are waiting for impulse moves - the probability is very high, but there will be a meeting in parliament tomorrow. Today, there can only be rumors and certain statements. Thus, I do not exclude the further formation of a congestion, where traders will monitor the existing boundaries for breakdown before laying trading orders.

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Based on the available data, it is possible to decompose a number of variations. Let's consider them:

- Positions for purchase of traders are considered after fixing the price higher than 1.3250.

- Positions for sale of traders are considered after fixing the price lower than 1.3170.

Indicator Analysis

Analyzing a different sector of timeframes (TF), we see that there is an upward interest in the short, intraday and medium term. It should be understood that the price is within the cluster, and indicators on smaller TFs can vary arbitrarily.

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Weekly volatility / Measurement of volatility: Month; Quarter; Year

Measurement of volatility reflects the average daily fluctuation, with the calculation for the Month / Quarter / Year.

(March 26 was based on the time of publication of the article)

The current time volatility is 45 points. The volatility of the day will depend on bursts of information background, because otherwise, we will see a standing quote in the cluster.

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Key levels

Zones of resistance: 1.3220 *; 1,3300 **; 1.3440; 1.3580 *; 1.3700

Support areas: 1.3000 ** (1.3000 / 1.3050); 1.2920 *; 1.2770 (1.2720 / 1.2770) **; 1.2620; 1.2500 *; 1.2350 **.

* Periodic level

** Range Level

The material has been provided by InstaForex Company - www.instaforex.com

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