empty
 
 
07.07.2020 11:53 AM
GBP/USD Short positions show promise!

GBP/USD has failed to make another higher and to confirm further growth, that's why the pair is under pressure now, this situation could bring us a short opportunity. The USDX's today's rebound has strengthened the dollar, which it has appreciated versus the major currencies.

The ISM Non-Manufacturing PMI amazing increase to 57.1 points could attract more and more buyers on USD in the short term. The US currency will grow significantly in the upcoming period if the USDX will have enough energy to jump and stabilize above the 98.00 level.

This image is no longer relevant

GBP/USD has failed to close and stabilize above the 61.8% retracement level and now is trading below the downside sliding line (sl1) of the orange ascending pitchfork. A valid breakdown below the sliding line (sl1) will suggest selling in the short term.

The pair is vulnerable also after the failure to stay above the median line (ml), this situation has suggested that the upside movement is finished and that we may have another leg down soon.

  • GBP/USD Trading Tips

GBP/USD is back below the PP (1.2488) level and it could drop deeper if it stays below this upside obstacle and below the sliding line (sl1). Technically, the failure to come back above the median line (ml) of the orange pitchfork has signaled that we may have a drop towards the lower median line (lml).

A buying opportunity could appear only after a valid breakout above the median line (ml) and above the 61.8% level, or after GBP/USD will end the current bearish momentum.

Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO
  • Depósito al azar
    ¡Haga un depósito en su cuenta de $3,000 y obtenga $1000 más!
    ¡En Abril, sorteamos $1000 dentro de la campaña Depósito afortunado!
    Obtenga la oportunidad de ganar depositando $3,000 en una cuenta de operaciones. Tras haber cumplido esta condición, se convertirá en un participante de la campaña.
    UNIRSE AL CONCURSO
  • Opere de forma inteligente, gane un dispositivo
    Recargue su cuenta con al menos $500, regístrese en el concurso y tenga la oportunidad de ganar dispositivos móviles.
    UNIRSE AL CONCURSO
  • 100% de bonificación
    Su oportunidad única de obtener un bono del 100 % en su depósito
    OBTENER BONO
  • 55% de bonificación
    Solicite un bono del 55% en cada depósito
    OBTENER BONO
  • 30% de bonificación
    Reciba un bono del 30% cada vez que recargue su cuenta
    OBTENER BONO

Recommended Stories

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback