Site map
العربية Български 中文 Čeština English Français Deutsch हिन्दी Bahasa Indonesia Italiano Bahasa Malay اردو Polski Português Română Русский Srpski Slovenský Español ไทย Nederlands Українська Vietnamese বাংলা Ўзбекча O'zbekcha Қазақша

InstaForex Client Area

  • Personal settings
  • Access to all InstaForex services
  • Detailed statistics and reports on trades
  • Full range of financial transactions
  • System of managing several accounts
  • Maximum data protection

InstaForex Partner Area

  • Full information on clients and commissions
  • Graphic statistics on accounts and clicks
  • Webmaster instruments
  • Ready-made web solutions and wide range of banners
  • High data protection level
  • Company's news, RSS feeds, and forex informers
Register
Log in using Google
cabinet icon

InstaForex – always at the forefront!Open a trading account and become a part of the InstaForex Loprais Team!

Success history of the team headed by Ales Loprais can become your success history! Trade confidently and head towards leadership like regular participant of Dakar Rally and winner of Silk Way Rally InstaForex Loprais Team does it!

Join in and win with InstaForex!

Instant account opening

Get a letter of instructions
toolbar icon

Trading Platform

For mobile devices

For trading via browser

02.12.201909:04 GBP/USD: plan for the European session on December 2. The pound remains in the side channel and awaits new opinion polls

To open long positions on GBP/USD you need:

Buyers of the pound coped with the task last Friday and did not let the pair fall below the support of 1.2880. At the moment, due to the gap down, the bulls need to return the resistance of 1.2925, which will be the first signal to open long positions in the hopes of updating highs in the areas of 1.2966 and 1.3017, where I recommend profit taking. In case of a weak report on the UK manufacturing sector, in the first half of the day it will be possible to observe the pound's further fall to the support area of 1.2883, however it is best to open long positions from there after a false breakout is formed. I recommend buying GBP/USD immediately for a rebound only after a test of a low of 1.2845.

To open short positions on GBP/USD you need:

Following the overlap of the morning gap, pound sellers will try to regain market position, and a weak report on the decline in the UK manufacturing sector will lead to a false breakout in the resistance area of 1.2925, which will be the first signal to open short positions. The main goal of the bears will be to retest the level of 1.2883 and consolidate below this range, which will quickly push GBP/USD to the support area of 1.2845, where I recommend profit taking. In case the pair grows above the resistance of 1.2925 in the morning, it is best to return to short positions only for a rebound from a high of 1.2966. The main market movement will be formed only after the publication of regular opinion polls on the topic of general elections in the UK.

Signals of indicators:

Moving averages

Trade is conducted in the region of 30 and 50 moving average, which indicates the lateral nature of the market.

Bollinger bands

If the pound rises, sellers will try to restrain the pair from going above the upper boundary of the indicator at 1.2945, while the lower boundary at 1.2884 will provide support.

Exchange Rates 02.12.2019 analysis

Description of indicators

  • Moving average (moving average determines the current trend by smoothing out volatility and noise). Period 50. The graph is marked in yellow.
  • Moving average (moving average determines the current trend by smoothing out volatility and noise). Period 30. The graph is marked in green.
  • MACD indicator (Moving Average Convergence / Divergence - moving average convergence / divergence) Fast EMA period 12. Slow EMA period 26. SMA period 9
  • Bollinger Bands (Bollinger Bands). Period 20

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Performed by Ruben Watson,
Analytical expert
InstaForex Group © 2007-2020
Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

Close
Widget calback
Our specialist
will call you back
in five minutes
We will navigate you
through the website and
answer all your questions!
Preferred Type of Connection
Preferred language
  • English
  • Русский
  • العربية
  • Bahasa Indonesia
  • Bahasa Melayu
  • বাংলা
  • Български
  • 中文
  • Español
  • हिन्दी
  • Asụsụ Igbo
  • Português
  • اردو
  • ไทย
  • Українська
  • Tiếng Việt
  • Èdè Yorùbá
A call-back request was accepted.
Our specialists will contact you as soon as possible.
An error occurred.
Please try again later.
Can't speak right now?
Ask your question in the chat.