We recently noticed that some third-party companies and individuals impersonated the TOPONE Markets brand and illegally misappropriated our trademarks.

We Hereby Reiterate Our Statement:

  • TOPONE Markets does not provide discretionary account operation trading services, nor does it cooperate with other third-party vendors and/ or agents to provide such services.
  • TOPONE Markets staff will not promise to our customer the definite profit, please do not trust any kind of the profit promise or profit related picture, such as screenshot/ chat history, etc, all investment profit can be only viewed on our official website and application.
  • TOPONE Markets is a professional online trading platform with low spreads and zero handling fees. Be wary of any behavior that asks you for any fees directly and privately. TOPONE Markets does not charge a fee at any stage of its trading process or other fee.

If you have any questions or concerns, please feel free to reach us by clicking the "Online Customer Support" or send an email to our customer care team cs@top1markets.com. We will answer your questions and assist you promptly.

Understood
We use cookies to learn more about how you use our website and what we can improve. Continue to use our website by clicking "Accept". Details
This website does not provide services to residents of United States.
Market News GBP/USD Darvas Box is in support of volatility growth above 1.26

GBP/USD Darvas Box is in support of volatility growth above 1.26

The 200-EMA's overlap with the cable price contributes to the consolidation filtering. The Darvas Box formation is approaching an acute volatility squeeze. A range between 40.00 and 60.00 on the RSI (14) indicates the lack of momentum in the counter.

Alina Haynes
2022-06-09
531

In Tokyo, the GBP/USD pair oscillates within a tight band of 1.2530-1.2550. After attempting to surpass the crucial barrier of 1.2600 on Wednesday, the cable had a strong selling reaction. A balanced market profile indicates an impending consolidation.

 

On an hourly scale, the emergence of a Darvas Box chart pattern indicates a compression of the standard deviation. The asset has fluctuated between 1.2430 and 1.2600 over the previous two weeks. Typically, the construction of a Darvas box after a vertical upward rise indicates the existence of initiative buyers, who have the capacity to drive the asset higher.

 

The 200-period Exponential Moving Average (EMA) is converging with the cable price around 1.2544, which increases the likelihood of future consolidation.

 

In addition, the Relative Strength Index (RSI) (14) in the region of 40.00 to 60.00 anticipates a continuation of a poor performance.

 

An upside break of the Darvas Box above the weekly highs at 1.2600 will push the asset towards the high for the month of May and the round-level resistance at 1.2667 and 1.2700, respectively.

 

If the asset falls below Tuesday's low of 1.2430, the bulls of the pound might lose their grasp. This will pull the major to a high of 1.2400 on May 11 and a low of 1.2280 on May 18.

GBP/USD

image.png 


Bonus rebate to help investors grow in the trading world!

Need Assistance?

7×24 H

Download the APP for Free