GBP/USD plan for the European session on June 27, 2019


To open long positions on GBP / USD pair, you need:

Pound buyers are required to keep the level of 1.2664 and the formation of a false breakdown, after updating the minimum of yesterday, which will be the first signal to open long positions. The target of GBP/USD buyers is to return to the resistance level of 1.2708, which will lead to the renewal of weekly highs in the area of 1.2756 and 1.2799, where I recommend taking profits. In the case of a further decline in the pound, it is best to return to long positions to rebound from a low of 1.2623.

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

Bears will try to break below the support at 1.2664, which will increase the pressure on the pound and lead to a renewal of the lows around 1.2623 and 1.2582, where I recommend taking profits. The bulls form an upward correction in the first half of the day. You can count on sales from the resistance of 1.2708, provided that a false breakdown is formed, or on a rebound from the maximum of 1.2756.

Indicator signals:

Moving averages

Trading is below 30 and 50 moving averages, which indicates a downward correction in the pair.

Bollinger bands

The upward correction will be limited to the upper boundary of the channel in the region of 1.2708, while a breakthrough of the lower boundary in the 1.2664 region will lead to a larger sale of the pound.

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

The material has been provided by InstaForex Company –

Source:: GBP / USD plan for the European session on June 27: The pound remains in the range while traders are waiting for new news

About the Author
InstaForex brand was created in 2007 and at the moment it’s a top choice of more than 2,000,000 traders. More than 1,000 clients open accounts with InstaForex every day. All InstaForex clients get great opportunities for effective trading on the forex market, as well as on-time technical and customer support

Related Posts

Leave a Reply