empty
 
 
You are about to leave
www.instaforex.eu >
a website operated by
INSTANT TRADING EU LTD
Open Account

13.08.201809:13 Forex Analysis & Reviews: Trading plan for the European session on August 13 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, it is required:

A false breakout and a return to 1.2739 will be the first signal to buy the pound in order to restore to the resistance area of 1.2789 and update the high in the area of 1.2847, where I recommend profit taking. If the pound drops below the support area of 1.2739, it is best to count on long positions after updating a large level of 1.2677.

To open short positions for GBP/USD, it is required:

The downward trend is maintained. The formation of a false breakout at the resistance of 1.2789 will be another signal for selling. The main task for the first half of the day will be to consolidate below the support of 1.2739, which will lead to another major wave of sales in the GBP/USD pair in the expectation of updating the area of 1.2677 and 1.2594, where I recommend to lock in the profit. In the event of a growth in the pound above 1.2789, it is best to consider short positions after hitting resistance at 1.2847 and 1.2893.

Exchange Rates 13.08.2018 analysis

Indicator description

  • Moving Average (average sliding) 50 days - yellow
  • Moving Average (average sliding) 30 days - green
  • MACD: fast EMA 12, slow EMA 26, SMA 9
  • Bollinger Bands 20
Miroslaw Bawulski
Analytical expert of InstaForex
© 2007-2024

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.




You are now leaving www.instaforex.eu, a website operated by INSTANT TRADING EU LTD
Can't speak right now?
Ask your question in the chat.

Turn "Do Not Track" off