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The Predictive Power Of Technical Analysis: Evidence From The Gbp/Usd Exchange Rate

Author

Listed:
  • Miguel LAMPREIA

    (Ivo Garcias, Sociedade de Embalagens, Lda., Portugal)

  • Fernando TEIXEIRA

    (Professor Assistant, Instituto Politécnico de Beja, Portugal; Smart Cities Research Center)

  • Susana

    (Professor Assistant, Faculty of Economy, University of Algarve, Portugal; Cin Turs - Research Center for Tourism, Sustainability and Well-being)

Abstract

This study examines the effectiveness of technical analysis in the foreign exchange market, focusing on the GBP/USD currency pair in 2019. By combining historical and granular analysis, the research leverages various technical tools, including trendlines, support and resistance levels, Fibonacci retracements, chart patterns, and candlestick formations. The study demonstrates the predictive power of these tools in identifying market trends, pinpointing potential reversals, and uncovering trading opportunities. This highlights the value of technical analysis for informed decision-making in the complex foreign exchange market.

Suggested Citation

  • Miguel LAMPREIA & Fernando TEIXEIRA & Susana, 2024. "The Predictive Power Of Technical Analysis: Evidence From The Gbp/Usd Exchange Rate," Sustainable Regional Development Scientific Journal, Sustainable Regional Development Scientific Journal, vol. 0(5), pages 91-98, March.
    • Handle: RePEc:bfb:srdjou:2024-12_5
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    References listed on IDEAS

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    More about this item

    Keywords

    Technical analysis; Forex market; GBP/USD exchange rate; Predictive tools; Market trends;
    All these keywords.

    JEL classification:

    • D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General
    • D53 - Microeconomics - - General Equilibrium and Disequilibrium - - - Financial Markets

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