- Thin green line is the entry price at which you can buy a trading instrument.The thick green line is the estimated price where you can place Take profit or fix profits yourself, since further growth is unlikely above this level.
- Thin Red Line: Entry price for selling the trading instrument.
- Thick Red Line: Expected price for setting Take Profit or independently fixing profits, as further decline below this level is unlikely.
- MACD Indicator: When entering the market, it is important to consider overbought and oversold areas.
- Important Note:
FX.co ★ GBP/USD: Simple trading tips for beginner traders for June 20th (US session)
Forex Analysis:::
GBP/USD: Simple trading tips for beginner traders for June 20th (US session)
Analysis of transactions and tips on trading the British poundThe price test of 1.2697 came at a time when the MACD indicator went down a lot from zero, which limited the further downward potential of the pair. The second test of this level occurred at the time when the MACD was in the oversold area, which led to the implementation of the buy scenario No. 2. However, a significant rise in the pound did not occur. After the Bank of England's interest rate decision was announced, there was another test of 1.2697 when the MACD started moving down from the zero mark, giving a selling entry point that remains valid at the time of writing. In addition to the Bank of England's decision, today will also see the release of the Philadelphia Fed Manufacturing Index, new housing starts, and building permit data in the US. Initial jobless claims figures are unlikely to have a major market impact. As for the intraday strategy, I plan to act based on the implementation of scenarios No. 1 and No. 2.