GBP/USD: Weekly and monthly pivot point and signal – for June 17 – 22, 2013
June 17, 2013 3:15 pm
The British pound is kept in very bullish trend. If you look at pivots lines, you see that the pair is above the weekly pivot point, which is located at 1.5647. Given that this week is key because the Fed announces its monetary policy, we must wait for a daily close below the weekly pivot of 1.5647 to sell with objectives until second weekly support of 1.5402. On the other hand, the first weekly resistance is at 1.5799. This area could stop upward movement. However, we can sell waiting to the decrease of the pair. Also in the graph of monthly pivots the British pound is approaching its 200-day moving average, which is located around 1.58. So it will be very difficult for the pair to break this area.
Signals for June 17 – 22, 2013
Sell if it pulls back around 1.5799 (W_R1) with take profit orders at 1.5647 and 1.5402, stop loss is above 50 pips above the firts weekly resistance.
Buy if the rebound is around 1.5647 (W_PPV) with take profit at 1.5745, stop loss is 50 pips below the weekly pivot point.
Sell if it closes below weekly pivot of 1.5647, with take profit orders at 1.5554 and 1.5402, stop loss is above 1.57.
The British pound is kept in very bullish trend. If you look at pivots lines, you see that the pair is above the weekly pivot point, which is located at 1.5647. Given that this week is key because the Fed announces its monetary policy, we must wait for a daily close below the weekly pivot of 1.5647 to sell with objectives until second weekly support of 1.5402. On the other hand, the first weekly resistance is at 1.5799. This area could stop upward movement. However, we can sell waiting to the decrease of the pair. Also in the graph of monthly pivots the British pound is approaching its 200-day moving average, which is located around 1.58. So it will be very difficult for the pair to break this area.
Signals for June 17 – 22, 2013
Sell if it pulls back around 1.5799 (W_R1) with take profit orders at 1.5647 and 1.5402, stop loss is above 50 pips above the firts weekly resistance.
Buy if the rebound is around 1.5647 (W_PPV) with take profit at 1.5745, stop loss is 50 pips below the weekly pivot point.
Sell if it closes below weekly pivot of 1.5647, with take profit orders at 1.5554 and 1.5402, stop loss is above 1.57.
____WEEKLY_____
Weekly – R3 = 1.6044
Weekly – R2 = 1.5892
Weekly – R1 = 1.5799
Weekly Pivot = 1.5647
Weekly – S1 = 1.5554
Weekly – S2 = 1.5402
Weekly – S3 = 1.5309
_____MONTHLY____
Monthly – R3 = 1.6128
Monthly – R2 = 1.5866
Monthly – R1 = 1.5532
Monthly Pivot = 1.5270
Monthly – S1 = 1.4936
Monthly – S2 = 1.4674
Monthly – S3 = 1.4340
If you would like to get this indicator, feel free to contact me via skype: gerardofx or e-mail: [email protected]
The material has been provided by InstaForex Company – www.instaforex.com
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