For Traders

Analytical Reviews

Trading plan

11.06.201809:52 Forex Analysis & Reviews: Trading plan for the European session on June 11 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, in order to maintain the upward trend, require breakthrough and consolidation above intermediate resistance 1.3437, but the main target will be to go beyond the highs of June 7 at 1.3474, which will open new areas of resistance 1.3523 and 1.3563, where it is recommended recording profits. If the pound drops below the support level of 1.3402 in the morning, long positions can be opened on a rebound from 1.3362 and 1.3336.

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

An unsuccessful break above 1.3437 with a return to this level will be the first signal for the bears, who will try to return the pair to the support level of 1.3402 today, which will lead to the formation of a larger downward trend with the renewal of the area 1.3362 and 1.3336, where it is recommended recording the profit. In the case of a breakout and growth above 1.3437 in the morning, it is best to return to short positions against the trend of 1.3474 and a rebound from 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 9
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.