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15.06.201801:17 Forex Analysis & Reviews: Trading plan for the US session on June 14 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 managed to catch hold of the resistance in the first half of the day for resistance 1.3412, and while the trade is above this level, demand for the pound will remain, which opens the way to new highs of 1.3467 and 1.3523, where it is recommended recording profits. In the case of a decline in the afternoon under the level of 1.3412, the new long positions in GBP/USD are best sought from support 1.3375 and 1.3340.

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

To consider short positions in the pound is best on a rebound from a large resistance 1.3467 or after a return and consolidation under the morning level of 1.3412. Only below this area will the pressure on GBP/USD rise, which will lead to a correction to the area of 1.3375 and 1.3340, where it is recommended recording profits.

Exchange Rates 15.06.2018 analysis

Description of indicators

  • MA (moving average) 50 days - yellow
  • MA (moving average) 30 days - green
  • MACD: fast EMA 12, slow EMA 26, SMA
  • Bollinger Bands 20
Miroslaw Bawulski
Analytical expert of InstaForex
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