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09.07.201809:54 Forex Analysis & Reviews: Trading plan for the European session July 9 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:

To continue the growth of the British pound, buyers need a breakthrough and consolidation above the resistance of 1.3334, which from the first will make it very difficult. The only breakdown of this range opens the way to new highs in the area of 1.3383 and 1.3437, where I recommend fixing profits. If the pound is lowered in the morning, long positions can be opened to rebound from support 1.3257 or after a false breakdown from the level of 1.3292.

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

An unsuccessful attempt to consolidate at resistance level 1.3334 and return under it in the first half of the day will be the first signal for opening short positions on the pound, with the main goal of reducing to the middle of the channel 1.3292 and updating this week's low at 1.3257. In the case of growth above 1.3334, you can sell the pound for a rebound of 1.3383.

Exchange Rates 09.07.2018 analysis

Description of indicators

MA (average sliding) 50 days - yellow

MA (average sliding) 30 days - green

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

Bollinger Bands 20

Miroslaw Bawulski
Analytical expert of InstaForex
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