For Traders

Analytical Reviews

Trading plan

09.06.201801:35 Forex Analysis & Reviews: Trading plan for the US session on June 8 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 1.3404. Only after that it will be possible to count on a repeated wave of growth of GBP/USD with an exit to the daily maximum in the area of 1.3434 and update 1.3468. If the pound is further reduced in the second half of the day, support can be sought after another false breakdown in the area of 1.3367 or on a rebound from 1.3336.

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

While the trade is below 1.3404, the pressure on the pound will remain, which may lead to the renewal of support at 1.3367, and then to a new low at 1.3336, where it is recommended recording the profit. In case of growth above 1.3404, selling GBP/USD can resume on a rebound from 1.3434.

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.