Important Information

This website is managed by Ultima Markets’ international entities, and it’s important to emphasise that they are not subject to regulation by the FCA in the UK. Therefore, you must understand that you will not have the FCA’s protection when investing through this website – for example:

  • You will not be guaranteed Negative Balance Protection
  • You will not be protected by FCA’s leverage restrictions
  • You will not have the right to settle disputes via the Financial Ombudsman Service (FOS)
  • You will not be protected by Financial Services Compensation Scheme (FSCS)
  • Any monies deposited will not be afforded the protection required under the FCA Client Assets Sourcebook. The level of protection for your funds will be determined by the regulations of the relevant local regulator.

Note: UK clients are kindly invited to visit https://www.ultima-markets.co.uk/. Ultima Markets UK expects to begin onboarding UK clients in accordance with FCA regulatory requirements in 2026.

If you would like to proceed and visit this website, you acknowledge and confirm the following:

  • 1.The website is owned by Ultima Markets’ international entities and not by Ultima Markets UK Ltd, which is regulated by the FCA.
  • 2.Ultima Markets Limited, or any of the Ultima Markets international entities, are neither based in the UK nor licensed by the FCA.
  • 3.You are accessing the website at your own initiative and have not been solicited by Ultima Markets Limited in any way.
  • 4.Investing through this website does not grant you the protections provided by the FCA.
  • 5.Should you choose to invest through this website or with any of the international Ultima Markets entities, you will be subject to the rules and regulations of the relevant international regulatory authorities, not the FCA.

Ultima Markets wants to make it clear that we are duly licensed and authorised to offer the services and financial derivative products listed on our website. Individuals accessing this website and registering a trading account do so entirely of their own volition and without prior solicitation.

By confirming your decision to proceed with entering the website, you hereby affirm that this decision was solely initiated by you, and no solicitation has been made by any Ultima Markets entity.

I confirm my intention to proceed and enter this website Please direct me to the website operated by Ultima Markets , regulated by the FCA in the United Kingdom
Skill Hub
Research
Trading Tools
Roll Arrow

Focus on GBP/USD Today – 20th October 2023 

Comprehensive GBP/USD for October 20, 2023

In this comprehensive analysis, Ultima Markets brings you an insightful breakdown of the GBP/USD for 20th October 2023. 

Key Takeaways 

  • High Inflation low hike expectations: Although Wednesday’s CPI data was stronger than expected, considering that CPI is still lower than the central bank’s August forecast of 6.9%, the monthly price level still maintains a downward trend. Therefore, the Bank of England may continue to maintain the current high interest rates for some time. 
  • Powell disturbed the market: In the early morning, Federal Reserve Chairman Powell gave a speech that if he saw further signs of strong economic growth, he might raise interest rates again. This statement shocked the market. 
  • Lack of long-term economic momentum in the UK: The UK faces high public debt, a possible recession, rising energy prices and the upcoming general election, all of which may limit economic growth and hit the pound. 

GBP/USD Technical Analysis 

GBP/USD Daily Chart Insights

GBP/USD Daily Chart Insights By Ultima Markets MT4
  • Stochastic Oscillator: The indicator fell below the midline yesterday, and there is a possibility that the market will decline further. 
  • Price Action: The bar closed as a doji bar yesterday, indicating the current balance of long and short forces. The market today is bound to be a big fluctuation market – either it will accelerate the decline, or it will rise sharply. 

GBP/USD 4-hour Chart Analysis

GBP/USD 4-hour Chart Analysis By Ultima Markets MT4
  • Fibonacci price: Yesterday, the exchange rate rose rapidly after falling to the 78.6% retracement price of the previous upward trend line. It is currently blocked by the 33-period and 65-period moving averages. If the 78.6% retracement level still fails to prevent the market from falling, the exchange rate may look towards the 1.2036. 
  • Stochastic Oscillator: The indicator has formed a golden cross yesterday and is currently blocked at the 50 midline. This means that short-term bulls are exhausted, and transactions still need to wait for the breakthrough of the midline before confirmation. 
  • Price Action: The market has rebounded four times in a row, and each rebound cannot exceed the previous one. The continuous lowering of high price means that the short force always has the upper hand. If the market wants to reverse, it needs to destroy the current structure, that is, break through the previous rebound high of 1.2190. 

Ultima Markets MT4 Pivot Indicator

Ultima Markets MT4 Pivot Indicator got GBP/USD
  • According to the pivot indicator in Ultima Markets MT4, the central price of the day is established at 1.21427, 
  • Bullish Scenario: Bullish sentiment prevails above1.21427, first target 1.21933, second target 1.22434; 
  • Bearish Outlook: In a bearish scenario below  1.21427, first target 1.20921, second target 1.20402. 

Conclusion 

To navigate the complex world of trading successfully, it’s imperative to stay informed and make data-driven decisions. Ultima Markets remains dedicated to providing you with valuable insights to empower your financial journey. 

For personalized guidance tailored to your specific financial situation, please do not hesitate to contact Ultima Markets. 

Contact Ultima Markets

Join Ultima Markets today and access a comprehensive trading ecosystem equipped with the tools and knowledge needed to thrive in the financial markets. 

Ultima Markets Latest Financial News

Stay tuned for more updates and analyses from our team of experts at Ultima Markets. 

Disclaimer   

Comments, news, research, analysis, price, and all information contained in the article only serve as general information for readers and do not suggest any advice. Ultima Markets has taken reasonable measures to provide up-to-date information, but cannot guarantee accuracy, and may modify without notice. Ultima Markets will not be responsible for any loss incurred due to the application of the information provided.  

Copyright © 2024 Ultima Markets Ltd. All rights reserved. 

Share Now

  • Article Details
  • Article Details
  • Article Details
Open Live Account Open Demo Account

Latest Articles

See More Articles

Market

Platform

Account

Resources

About

FOLLOW US

app_store google_play
icon

Ultima Markets is a member of The Financial Commission, an international independent body responsible for resolving disputes in the Forex and CFD markets.

icon

All clients of Ultima Markets are protected under insurance coverage provided by Willis Towers Watson (WTW), a global insurance brokerage established in 1828, with claims eligibility up to US$1,000,000 per account.

icon

Ultima Markets is the first United CFD broker to be part of the United Nations Global Compact.

RISK DISCLOSURE

Risk Warning:
Trading leveraged financial products, including Contracts for Difference (CFDs), carries a high level of risk and may result in losses exceeding your initial investment. These products are not suitable for all investors and should only be traded with funds you can afford to lose. You do not own or have any rights to the underlying assets of these derivatives (e.g., entitlement to dividends). Please ensure you fully understand the associated risks. Before trading, consider your level of experience, investment objectives, and seek independent financial advice if necessary. Refer to our legal documents and disclosures before making any trading decisions.

General Advice Warning:
The information provided on this website is general in nature and does not take into account your personal objectives, financial situation, or needs. Before acting on any advice, you should assess its appropriateness in light of your individual circumstances and consult our legal documentation.

Regional Restrictions:
The information and services on this website are not intended for residents of certain jurisdictions, including but not limited to the United States, United Kingdom, Singapore, and any jurisdictions subject to international sanctions. For further information, please contact our customer support team.

Regulatory Information:

Ultima Markets is a trading name shared amongst multiple entities operating in various jurisdictions. These following entities are authorised to operate under the Ultima Markets brand and trademarks.

  • Ultima Markets UK Limited, reference number 470325, is authorised and regulated by the Financial Conduct Authority (FCA). Registered address: 1 Blossom Yard, Fourth Floor, London, E1 6RS, UNITED KINGDOM.

  • Ultima Markets Ltd is authorised and regulated by the Financial Services Commission (FSC) of Mauritius as a Full-Service Investment Dealer (excluding Underwriting), under licence number GB 23201593.

    Registered address: 2nd Floor, The Catalyst, 40 Silicon Avenue, Ebene Cybercity, 72201, Mauritius.

  • Ultima Markets EU OÜ is incorporated in Estonia with registry code 17134727. Registered address: Harju maakond, Tallinn, Kristiine linnaosa, Seebi tn 1-1501, 11316. Ultima Markets EU OÜ facilitates services on behalf of other licensed entities within the Ultima Markets Group, including, but not limited to, payment services. This entity does not offer regulated financial products or provide trading services.

Ultima Markets Logo in Black Colour

Copyright © 2026 Ultima Markets Ltd. All rights reserved.

chat control
Hi, how can we help you?
打开 linee 的二维码

Thank you for visiting the Ultima Markets website. Please note that this website is intended for individuals residing in jurisdictions where access is permitted by law. Ultima and its affiliated entities do not operate in your home jurisdiction.

By clicking ‘Acknowledge’, you confirm that you are entering this website solely on your own initiative and not as a result of any specific marketing outreach. You wish to obtain information from this website based on reverse solicitation principles, in accordance with the applicable laws of your home jurisdiction.

Acknowledge and enter the website