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11.07.201813:04 Forex Analysis & Reviews: Trading plan for the US session of GBP / USD pair on July 10

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 pair, you need:

Buyers could not catch hold of resistance at 1.3257 in the morning. For another attempt of pound growth, a second exit beyond 1.3257 is required, which could lead to an update of the daily high near 1.3296 and a further rise in GBP / USD to the resistance of 1.3359. If the pound drops in the afternoon, you can count on the support level of 1.3189.

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

While the trade is below 1.3257, the pressure on the pound will be maintained, and the repeated support test of 1.3223 will lead to a larger sellout of GBP / USD with the release of new lows of 1.3189 and 1.3157 to the region. In case of a pair growth in the second half of the day above 1.3257, you can return to sales after updating the resistance of 1.3296.

Exchange Rates 11.07.2018 analysis

Description of indicators

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