AMD/GBP Currency Pair Forecast

AMD/GBP currency pair price up 0.372% on Thursday
(Updated on May 30, 2024)

AMDGBP Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, May 28, 2024, and so far it has risen 0.592%. Further rise is indicated until a new top pivot has been found. AMD/GBP has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The AMD/GBP currency pair holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the currency pair giving a more negative forecast for the stock. On further gains, the currency pair will meet resistance from the long-term Moving Average at £0.0019. On a fall, the currency pair will find some support from the short-term average at £0.0019. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The currency pair had a Golden Star Signal on Monday, March 18, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the currency pair in question.

Support, Risk & Stop-loss for AMD/GBP currency pair

AMD/GBP finds support from accumulated volume at £0.0019 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the currency pair tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the currency pair moved £0.00000760 between high and low, or 0.403%. For the last week the currency pair has had daily average volatility of 0.199%.

Our recommended stop-loss: £0.0018 (-5.97%) (This currency pair has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 11 days ago.)

Trading Expectations (AMDGBP) For The Upcoming Trading Day Of Friday 31st

For the upcoming trading day on Friday, 31st we expect AMD/GBP to open at £0.0019, and during the day (based on 14 day Average True Range), to move between £0.0019 and £0.0019, which gives a possible trading interval of +/-£0.00001453 (+/-0.77%) up or down from last closing price. If AMD/GBP takes out the full calculated possible swing range there will be an estimated 1.53% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at £0.0019 (0.59%) than the resistance at £0.0019 (1.27%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is AMD/GBP currency pair A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for AMD/GBP currency pair to perform well in the short-term.

Current score: 2.312 Buy Candidate Unchanged

Predicted Opening Price for AMD/GBP of Friday, May 31, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.