GYD/GBP Currency Pair Forecast

GYD/GBP currency pair price up 0.0179% on Friday
(Updated on Jun 28, 2024)

GYDGBP Signals & Forecast

The GYD/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 £0.0036 and £0.0036. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 1.25%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued. The currency pair had a Golden Star Signal on Monday, June 17, 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 GYD/GBP currency pair

GYD/GBP finds support from accumulated volume at £0.0036 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the currency pair During the last day, the currency pair moved £0.00000448 between high and low, or 0.124%. For the last week the currency pair has had daily average volatility of 0.170%

Our recommended stop-loss: £0.0035 (-4.50%) (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 (GYDGBP) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect GYD/GBP to open at £0.0036, and during the day (based on 14 day Average True Range), to move between £0.0036 and £0.0036, which gives a possible trading interval of +/-£0.00001148 (+/-0.32%) up or down from last closing price. If GYD/GBP takes out the full calculated possible swing range there will be an estimated 0.63% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at £0.0036 (0.22%) than the support at £0.0036 (0.39%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is GYD/GBP currency pair A Buy?

GYD/GBP holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.720 Hold/Accumulate Unchanged

Predicted Opening Price for GYD/GBP of Monday, July 1, 2024

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