GBP/USD: Weekly and monthly pivot point and signal – for June 24- 29, 2013
June 24, 2013 4:00 pm
The GBP/USD pair is showing a little strong, because many expected a fall to 1.50 levels quickly. However, we note that it is trading at levels of 1.54. This week will set the trends toward the pair. 1.5512 level, weekly pivot level, will be key. So at this level we recommend selling with objectives to first weekly 1.5272 support. We believe that the pound cannot fall lower than this level, because if you observed monthly pivots on the graph, find the midline of the monthly pivot around 1.5270. So we believe that this area will offer a bounce of the pair, so you can buy with objectives to 1.5512. Therefore, we recommend the following trading signals that will be valid for all this week.
Signals for June 24 – 29, 2013
Sell if it pulls back around 1.5512 (W_PPV) with take profit orders at 1.5272, stop loss is above 50 pips above the pivot point.
Buy if the rebound is around 1.5270 (M_PPV) with take profit at 1.5512, stop loss is 50 pips below the Monthly pivot point.
The GBP/USD pair is showing a little strong, because many expected a fall to 1.50 levels quickly. However, we note that it is trading at levels of 1.54. This week will set the trends toward the pair. 1.5512 level, weekly pivot level, will be key. So at this level we recommend selling with objectives to first weekly 1.5272 support. We believe that the pound cannot fall lower than this level, because if you observed monthly pivots on the graph, find the midline of the monthly pivot around 1.5270. So we believe that this area will offer a bounce of the pair, so you can buy with objectives to 1.5512. Therefore, we recommend the following trading signals that will be valid for all this week.
Signals for June 24 – 29, 2013
Sell if it pulls back around 1.5512 (W_PPV) with take profit orders at 1.5272, stop loss is above 50 pips above the pivot point.
Buy if the rebound is around 1.5270 (M_PPV) with take profit at 1.5512, stop loss is 50 pips below the Monthly pivot point.
____WEEKLY_____
Weekly – R3 = 1.6042
Weekly – R2 = 1.5897
Weekly – R1 = 1.5657
Weekly Pivot = 1.5512
Weekly – S1 = 1.5272
Weekly – S2 = 1.5127
Weekly – S3 = 1.4887
_____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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