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FX.co ★ Trading plan for the US session on June 12 GBP / USD

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Forex Analysis:::2018-06-12T20:57:02

Trading plan for the US session on June 12 GBP / USD

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

Buyers of the pound need to return to the resistance level of 1.3392. Only after this, it will be possible to count on a repeated wave of GBP / USD rise with an exit to the upper border of the channel of 1.3439, and then for a weekly maximum in the area of 1.3474, where I recommend fixing the profit. In the case of further reduction of the pound to purchases, you can return on a false breakdown from 1.3334 or on a rebound from 1.3303.

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

While the trade is below the level of 1.3392, the pressure on the pound will be maintained, which could lead to the renewal of the new daily low around 1.3334, and then the larger support level of 1.3303, where I recommend fixing the profit. In the case of growth above the level of 1.3392 in the afternoon, selling GBP / USD can again be on the rebound from 1.3439.

Trading plan for the US session on June 12 GBP / USD

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

Analyst InstaForex
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