Trading recommendations for the GBP / USD currency pair on June 8, 2018
June 8, 2018 12:22 pm
In previous articles, we already discussed that the currency pair is in the correction phase, giving us more than 250 points of the move from May 30. Now the price has reached the range of 1.3440 / 1.3480, where the upper limit coincides with the Fibo level of 23.6. What we have at the moment is rollback and stagnation from the range level, which is quite rational. Since the level is averagely important, “Fibo” added another ball to it, which as a result strengthens the value.
Possible scenarios
Considering the H4 graph, you probably already noticed two interesting fractals, Up / Down, from June 7 and that’s exactly what we need. Earlier, we already wrote that the stagnation with two-digit interest is possible and these fractals will just help us to filter false wiles when placing orders. The purchase is above 1.3480, with a prospect on 1.3550 / 1.3600; The sale is below 1.3360, with a move to 1.3300.
Key Levels
Resistance zones: 1.3440 **: 1.3600 *; 1,3700
Support zones: 1,3300; 1,3200 * 1,3000
* Periodic level
** Range level
The material has been provided by InstaForex Company – www.instaforex.com
In previous articles, we already discussed that the currency pair is in the correction phase, giving us more than 250 points of the move from May 30. Now the price has reached the range of 1.3440 / 1.3480, where the upper limit coincides with the Fibo level of 23.6. What we have at the moment is rollback and stagnation from the range level, which is quite rational. Since the level is averagely important, “Fibo” added another ball to it, which as a result strengthens the value.
Possible scenarios
Considering the H4 graph, you probably already noticed two interesting fractals, Up / Down, from June 7 and that’s exactly what we need. Earlier, we already wrote that the stagnation with two-digit interest is possible and these fractals will just help us to filter false wiles when placing orders. The purchase is above 1.3480, with a prospect on 1.3550 / 1.3600; The sale is below 1.3360, with a move to 1.3300.
Key Levels
Resistance zones: 1.3440 **: 1.3600 *; 1,3700
Support zones: 1,3300; 1,3200 * 1,3000
* Periodic level
** Range level
The material has been provided by InstaForex Company – www.instaforex.com
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