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08.07.202012:46 Forex Analysis & Reviews: GBP/USD: plan for the American session on July 8

Tyto informace jsou v rámci marketingové komunikace poskytovány retailovým i profesionálním klientům. Neobsahují investiční rady a doporučení, nabídky k nebo žádosti o účast na jakékoli transakci nebo strategii spojené s finančními nástroji a neměly by tak být chápány. Předchozí výkon není zárukou ani predikcí budoucího výkonu. Instant Trading EU Ltd. neručí a nezodpovídá za přesnost nebo úplnost poskytnutých informací, ani za ztrátu vyplývající z jakékoliv investice na základě analýzy, předpovědi nebo jiných informací poskytnutých zaměstnancem společnosti nebo jiným způsobem. Úplné znění Odmítnutí odpovědnosti je k dispozici zde.

To open long positions on GBPUSD, you need:

In the first half of the day, I paid attention to the level of 1.2526 and recommended opening long positions from it only when forming a false breakout, which buyers failed to do. On the contrary, if you look at the 5-minute chart, you will see how the bears are now trying to gain a foothold below this range, forming a good signal to sell the pound. All that buyers need now is a return of the pair to the level of 1.2526, as it will be very problematic to continue the upward trend without this. However, it is worth remembering that in the second half of the day, we do not have important fundamental statistics, which may even keep the pair in a narrow side channel, and trade around the level of 1.2526. Yesterday's growth on Brexit rumors may end as quickly as it began. Therefore, a more optimal scenario for opening long positions will be a test of the support of 1.2464, from which you can buy GBP/USD immediately for a rebound in the expectation of correction of 30-40 points within the day. If the bulls manage to regain the level of 1.2526, the next goal will be a breakout and consolidation at the week's highs in the area of 1.2585, which forms a new bullish signal for the continued growth of the pound in the area of 1.2676, where I recommend fixing the profits.

Exchange Rates 08.07.2020 analysis

To open short positions on GBPUSD, you need:

Sellers of the pound did not allow the pair to enter the resistance area of 1.2585, so there was no special struggle for this level in the first half of the day. Even now, the bears are trying to regain the support of 1.2526, fixing under which has already formed a signal to sell the pound, which may lead to its decline to the low of 1.2464, where I recommend fixing the profits since it will not be possible to get below this range the first time. The bears' longer-term goal remains the minimum of 1.2386, which they will only be able to reach if the upward trend breaks. However, it should be understood that the downward movement from the level of 1.2526 should be fast and strong, similar to yesterday's breakout of this range in the opposite direction. If there is no movement, then by the middle of the American session, you should think about the real presence of large sellers in the market. In the scenario of GBP/USD growth in the second half of the day, you can still count on short positions after the formation of a false breakout in the area of the weekly maximum of 1.2585. But it is worth selling GBP/USD immediately on the rebound only after updating the area of 1.2676 in the expectation of correction of 30-40 points within the day.

Exchange Rates 08.07.2020 analysis

Signals of indicators:

Moving averages

Trading is conducted in the area of 30 and 50 daily averages, which indicates an attempt by the bears to reverse the market.

Note: The period and prices of moving averages are considered by the author on the hourly chart H1 and differ from the general definition of the classic daily moving averages on the daily chart D1.

Bollinger Bands

A break in the lower border of the indicator at 1.2525 should increase the pressure on the British pound. Breaking the upper limit of the indicator around 1.2575 will lead to new growth of GBP/USD.

Description of indicators

  • Moving average (moving average determines the current trend by smoothing out volatility and noise). Period 50. The graph is marked in yellow.
  • Moving average (moving average determines the current trend by smoothing out volatility and noise). Period 30. The graph is marked in green.
  • MACD indicator (Moving Average Convergence / Divergence - moving average convergence / divergence) Fast EMA period 12. Slow EMA period 26. SMA period 9
  • Bollinger Bands (Bollinger Bands). Period 20
Miroslaw Bawulski
analytik InstaForexu
© 2007–2024

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