Brief trading recommendations for EUR/USD and GBP/USD on 07/15/20

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The EUR/USD currency pair moves within the range of 1.1400/1.1440, which has repeatedly played the role of resistance in the market. If the market systematically finds the resistance point in the same coordinate, the trader receives a signal of a possible reversal in advance. That is why, if the pattern associated with the area of 1.1400/1.1440 is repeated, then we will see a downward movement again.

It is recommended to sell the pair at a price lower than 1.1380 with the prospect of a movement to 1.1350-1.1300.

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For the GBP/USD currency pair, the quote has a slight slowdown within the range of 1.2565/1.2580, which arose after a sharp upward price movement. If the price has a closed cycle of oscillation, then a breakdown of one or another border can give the market a local movement in the direction of breakdown. Thus, our trading tactics will be to work on the breakdown of one of the framework of 1.2565/1.2580

- It is recommended to buy a pair at a price above 1.2585 with the prospect of a movement to 1.2620

- It is recommended to sell a pair at a price lower than 1.2560 with the prospect of a movement to 1.2540-1.2500

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