empty
 
 
12.06.2019 03:24 PM
GBP/USD: plan for the US session on June 12. Buyers of the pound continue to push it up

To open long positions on GBP/USD, you need:

The weakness of the US dollar is clearly seen in the pair with the British pound, where buyers have coped with the next task, and, despite the emerging divergence on the MACD indicator, fixed above the resistance of 1.2728. While trading is conducted above this level, it is likely that the upward correction will continue to the highs of 1.2765 and 1.2795, where I recommend fixing the profit. In the scenario of a pound decline below the level of 1.2728, for example, on good inflation data in the US, you can count on long positions to rebound from the minimum of 1.2691.

To open short positions on GBP/USD, you need:

Sellers of the pound will return only after the update of the resistance of 1.2765, and then, under the condition of false breakdown, however, I recommend opening larger short positions on the test of the maximum of 1.2795. The main task of the bears will be to close the day below the support of 1.2728, which will keep the pair in the side channel.

Indicator signals:

Moving Averages

Trading is above 30 and 50 moving averages, which indicates a possible continuation of the pair's growth.

Bollinger Bands

The downward movement of the pound will be limited by the lower limit of the indicator in the area of 1.2710, while the breakthrough of the upper limit in the area of 1.2760 will lead to a new wave of growth.

This image is no longer relevant

Description of indicators

  • MA (moving average) 50 days – yellow
  • MA (moving average) 30 days – green
  • MACD: fast EMA 12, slow EMA 26, SMA 9
  • Bollinger Bands 20
Miroslaw Bawulski,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

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