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13.06.201809:09 Forex Analysis & Reviews: Trading plan for the European session on June 13 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 for GBP / USD, you need:

The formation of a false breakout at 1.3343 with a return to resistance level of 1.3387 will be a good signal to buy the pound, the main goal of which is the area of 1.3423, where it is recommended to lock in profits in the morning. If the GBP / USD falls below the level of 1.3343, long positions can be considered for a rebound from 1.3303.

To open short positions for GBP / USD, you need:

Sellers will try to consolidate below the level of 1.3343 in the morning, and weak inflation data in the UK may lead to a larger sale of the pound to areas of 1.3303 and 1.3255, where it is recommended to lock in profits. In case of growth above the level of 1.3387 in the morning, selling the pound is best to return to the rebound from resistance 1.3423.

Exchange Rates 13.06.2018 analysis

Description of indicators

MA (moving average) 50 days - yellow

MA (moving average) 30 days - green

MACD: fast EMA 12, slow EMA 26, SMA 9

Bollinger Bands 20

Miroslaw Bawulski
Analytical expert of InstaForex
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