GTQ/GBP Currency Pair Forecast
Stronger technical forecast for GTQ/GBP currency pair price after Friday trading.
(Updated on Jun 28, 2024)
The GTQ/GBP currency pair price gained 0.0215% on the last trading day (Friday, 28th Jun 2024), rising from £0.102 to £0.102. During the last trading day the currency pair fluctuated 0.337% from a day low at £0.102 to a day high of £0.102. The price has risen in 7 of the last 10 days and is up by 0.27% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 4 more shares were traded than the day before. In total, 1 thousand shares were bought and sold for approximately £126.60 .
The currency pair is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect GTQ/GBP currency pair with a 90% probability to be traded between £0.0986 and £0.101 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and currency pairs seldom manage to go directly from the bottom of a trend up to the top. Currency pairs turning up in the middle of a horizontal trend are therefore considered to be potential runners. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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GTQGBP Signals & Forecast
Mostly positive signals in the chart today. The GTQ/GBP currency pair holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at £0.102 and £0.101. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, June 12, 2024, and so far it has risen 1.16%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). GTQ/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.
Support, Risk & Stop-loss for GTQ/GBP currency pair
GTQ/GBP finds support from accumulated volume at £0.102 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 £0.0003 between high and low, or 0.337%. For the last week the currency pair has had daily average volatility of 0.492%.
Our recommended stop-loss: £0.0967 (-4.99%) (This currency pair has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 56 days ago.)
Trading Expectations (GTQGBP) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect GTQ/GBP to open at £0.102, and during the day (based on 14 day Average True Range), to move between £0.101 and £0.102, which gives a possible trading interval of +/-£0.0006 (+/-0.59%) up or down from last closing price. If GTQ/GBP takes out the full calculated possible swing range there will be an estimated 1.18% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £0.102 (0.17%) than the resistance at £0.102 (0.48%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is GTQ/GBP currency pair A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for GTQ/GBP currency pair to perform well in the short-term period. We have upgraded our analysis conclusion for this currency pair since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.438 Buy Candidate Upgraded
Predicted Opening Price for GTQ/GBP of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| £0.102 ( 0.0083%) | £0.102 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GTQGBP
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.102 | 0.345% |
| R2 | 0.102 | 0.216% |
| R1 | 0.102 | 0.137% |
| Price | 0.102 | |
| S1 | 0.102 | -0.120% |
| S2 | 0.102 | -0.200% |
| S3 | 0.101 | -0.328% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.103 | 0.96% |
| R2 | 0.103 | 0.762% |
| R1 | 0.102 | 0.483% |
| Price | 0.102 | |
| S1 | 0.102 | -0.168% |
| S2 | 0.101 | -0.434% |
| S3 | 0.101 | -0.621% |
FAQ
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