empty
 
 

12.06.202009:14 Forex Analysis & Reviews: Indicator analysis. Daily review for GBP/USD on June 12, 2020

Trend analysis (Fig. 1).

On Friday, the pair is likely to continue moving down from the level of 1.2603 (the closing price of yesterday's candlestick) with the target at the retracement level of 1.2532 - 38.2% (the red dotted line). Most likely, the price will continue falling from this level with the target at 1.2445, the pullback level of 50% (the red dashed line).

Exchange Rates 12.06.2020 analysis

Fig. 1 (daily chart).

Comprehensive analysis:

- indicator analysis - down;

- Fibonacci retracement levels - down;

- volumes - down;

- candlestick analysis - down;

- trend analysis - down;

- Bollinger Lines - down;

- weekly chart - down.

General conclusion:

Today, the pair is likely to continue moving down from the level of 1.2603 (the closing price of yesterday's candlestick) with the target at the retracement level of 1.2532 - 38.2% (the red dotted line). Most likely, the price will continue falling from this level with the target at 1.2445, the pullback level of 50% (the red dashed line).

In the unlikely scenario, if the price drops and reaches the retracement level of 1.2532, 38.2% (the red dashed line), it may start rising with the target at the resistance level of 1.2640 (the red bold line).

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

Stefan Doll,
Analytical expert of InstaForex
© 2007-2021
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.

Can't speak right now?
Ask your question in the chat.