For Traders

Analytical Reviews

Trading plan

07.06.201822:51 Forex Analysis & Reviews: Trading plan for the US session on June 7 for the GBP/USD

Long-term review

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

To open long positions on GBP/USD it is required:

Buyers of the pound need to return to the morning resistance level 1.3439. Only after that it will be possible to count on a repeated wave of growth of GBP/USD with an exit to new monthly highs of 1.3487 and 1.3523. If the pound is down in the second half of the day, support can be sought after another false breakdown in the area of 1.3386 or a rebound from 1.3336.

To open short positions for GBP/USD it is required:

Forming a false breakout and returning the pound to 1.3439 in the afternoon will be a good signal for short positions with a repeat morning support test of 1.3386. In case of growth above 1.3439, short positions can be returned immediately on a rebound from 1.3487 and 1.3523.

Description of indicators

MA (moving average) 50 days - yellow
MA (moving average) 30 days - green
MACD: fast EMA 12, slow EMA 26, SMA
Bollinger Bands 20

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.