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06.06.201823:04 Forex Analysis & Reviews: Trading plan for the US session on June 6 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:

Buyers of the euro need a second test and breakdown of resistance 1.3426, from where the upward trend will continue into the region of the new high of 1.3476, where I recommend fixing the profits. In the case of GBP / USD decline in the second half of the day, it is best to open long positions for a rebound from 1.3376.

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

While the trade is below the level of 1.3426, the bears will try to play the scenario of returning the pound to the area of daytime lows, to the support area of 1.3376. If, in the second half of the day, the breakdown is 1.3426, then it's best to return to short positions in GBP / USD on a rebound from 1.3476.

Exchange Rates 06.06.2018 analysis

Description of indicators

MA (average sliding) 50 days - yellow

MA (average sliding) 30 days - green

MACD: fast EMA 12, slow EMA 26, SMA

Bollinger Bands 20

Miroslaw Bawulski
Analytical expert of InstaForex
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