empty
 
 
09.07.2020 12:29 PM
Technical analysis of GBP/USD for July 09, 2020

This image is no longer relevant

Overview:

In the four time frame, the GBP/USD pair continues to move in an uptrend from the level of 1.2531 since yesterday.

So, major support is seen at 1.2531, while immediate resistance is found at 1.2689. Besides, it should be noted that the first support (1.2598) coincides with the ratio of 61.8% Fibonacci Expansion.

Today, we guess that the pair will be traded higher in the early session and try to reach the first resistance at the level of 1.2689. The bias is neutral in the nearest term probably with a little bullish bias testing 1.2605 area which needs to be clearly broken to the upside to keep the bullish scenario strong.

A clear break above that area (1.2605 ) could lead the price to the neutral zone in the nearest term testing 1.2689.

Thus, we confirm the bullish scenario. However, the bullish trend is still expected for the upcoming hours as long as the price is above 1.2598 levels.

The market is still indicating a strong bullish trend from the area of 1.2598/1.2605.

Therefore, the price is expected to reach a high once again. It is rather gainful to buy at the area 1.2598/1.2605 with the targets at 1.2689 and 1.2812 in order to form the double top. So, it is recommended to place take profit at the price of 1.2812 this week.

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