You are here: Home > articles > Forex > GBP/USD: plan for the European session on June 7. The bulls again failed to go beyond the highs of the week, but the chance
GBP/USD: plan for the European session on June 7. The bulls again failed to go beyond the highs of the week, but the chance
June 7, 2019 7:26 amVideo
Latest News
- Market Comment – Safe havens jump as Israel retaliates against Iran April 19, 2024
- Technical Analysis – USDCAD puts rally on hold near 1.3800 caution zone April 19, 2024
- USD/JPY: trading tips for beginners for European session on April 19 April 19, 2024
- GBP/USD: trading tips for beginners for European session on April 19 April 19, 2024
- EUR/USD: trading tips for beginners for European session on April 19 April 19, 2024
- Supercharged US dollar turns to GDP growth data – Preview April 19, 2024
- Technical Analysis – USDCHF remains in bullish structure April 19, 2024
- Hot forecast for EUR/USD on April 19, 2024 April 19, 2024
- We’ve Donated Books in Vietnam for Children’s Day April 19, 2024
- Week Ahead – US GDP and BoJ decision on top of next week’s agenda April 19, 2024
- Technical Analysis – GBPJPY range trading continues April 19, 2024
- Overview of the GBP/USD pair on April 19th. The Bank of England may lower the rate in May April 19, 2024
- Overview of the EUR/USD pair on April 19th. Jerome Powell crushed all euro growth prospects April 19, 2024
- Key events on April 19: fundamental analysis for beginners April 19, 2024
- Trading plan for GBP/USD on April 19. Simple tips for beginners April 19, 2024
- Trading plan for EUR/USD on April 19. Simple tips for beginners April 19, 2024
- Forecast for EUR/USD on April 19, 2024 April 19, 2024
- Forecast for GBP/USD on April 19, 2024 April 19, 2024
- Forecast for USD/JPY on April 19, 2024 April 19, 2024
- Technical Analysis of Intraday Price Movement of Litecoin Cryptocurrency, Friday April 19 2024. April 19, 2024
To open long positions on GBP/USD you need:
Yesterday, pound buyers made another attempt to grow above the resistance of 1.2739, which was again unsuccessful. Today, in the first half of the day, attention will be shifted to the report on inflation expectations, which can help the pound to get above the resistance of 1.2705, which will increase demand for it and lead to the third test of a week high of 1.2739, where I recommend taking profits. A breakdown of 1.2739 can occur only after the release of a weak report on the US labor market, which is expected in the afternoon. With the GBP/USD decline scenario, the support will be the area of 1.2668, however, opening long positions immediately to the rebound is best for the low of 1.2644.
To open short positions on GBP/USD you need:
Pound sellers will expect the formation of a false breakdown in the resistance area of 1.2705. Only in such a scenario can we expect the pound to further decline to the support area of 1.2668 and an update of the low of 1.2644, where I recommend taking profits. If the bulls manage to return to a resistance of 1.2705 in the first half of the day, it is best to open short positions to rebound from a resistance of 1.2739.
Indicator signals:
Moving averages
Trade is conducted in the region of 30 and 50 moving averages, which indicates the lateral nature of the market.
Bollinger bands
Volatility is reduced, which does not provide signals to enter the market.
Description of indicators
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: