MG Network

something big isHappening!

In the mean time you can connect with us with via:

Copyright © Money Grows Network | Theme By Gooyaabi Templates

Money Grows Network

Archive

Powered by Blogger.

Welcome To Money Grows Network

Verified By

2006 - 2019 © www.moneygrows.net

Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

Popular

Pages

Expert In

Name*


Message*

June 10, 2020 : GBP/USD Intraday technical analysis and trade recommendations.

analytics5ee0c0083e760.jpg

analytics5ee0bfcea1638.jpgRecently, Bullish breakout above 1.2265 has enhanced many bullish movements up to the price levels of 1.2520-1.2590 where temporary bearish rejection as well as a sideway consolidation range were established (In the period between March 27- May 12).

Shortly after, transient bearish breakout below 1.2265 (Consolidation Range Lower Limit) was demonstrated in the period between May 13 - May 26.

However, immediate bullish rebound has been expressed around the price level of 1.2080. This brought the GBPUSD back above the depicted price zone of 1.2520-1.2600 which failed to offer sufficient bearish rejection.

Hence, short-term technical outlook has turned into bullish, further bullish advancement may be expressed towards 1.2780 (Previous Key-Level) and probably 1.2950 if sufficient bullish momentum is maintained.

On the other hand, any bearish breakdown below 1.2520 pauses the bullish outlook for sometime and should be considered as an early exit signal for short-term buyers.

Trade recommendations :

Intraday traders should wait for any bearish pullback towards the price zone around 1.2520 ( Backside of the broken uptrend, considered as a recent demand level) for a low-risk BUY Entry.

T/P level to be located around 1.2600, 1.2715 and 1.2750 while S/L should be placed below 1.2450.

The material has been provided by InstaForex Company - www.instaforex.com