MG Network

our website isOn Vacation

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*

Trading Signal for GBP/USD for July 19 - 20, 2021: Buy above 1.3672

analytics60f5843e3203e.jpg

In a 1-hour chart, the GBP / USD pair is trading under strong downward pressure, after having broken the strong support of 2/8 of murray located at 1.3793. Now we notice a slight consolidation in the zone of 1.3700. Could it be a good moment to buy or should we wait for the 1.3672 level?

Given that the key and strong support is the 1.3671 zone, to shorten the risk of a missed entry, it will be a good idea to buy in the 0/8 zone of murray. On the contrary, if the price continues to consolidate above 1.3700, we could buy with targets towards the 21 SMA located at 1.3746. The break of this level may give GBP / USD a bullish momentum to the 200 EMA.

At the fundamental level, investors remain concerned about the recent increase in cases of the Delta strain, the highly contagious variant of COVID-19. Such fears have caused a drop in all crosses against the US dollar. Its index has strengthened to the high of 93.01.

The increasing cases of COVID in the United Kingdom is making it difficult for this pair to continue its climb. The pair could enter a consolidation phase between 1.3670 and 1.39 in the short term.

According to the 1-hour chart, we note that the eagle indicator is in the oversold zone which suggests that an imminent correction towards the 2/8 murray level located at 1.3793 may occur in the next few hours.

Therefore, our recommendation is to buy above 1.3700, or if the pair rebounds from the 1.3672 area, with targets at 1.3745 and 1.3822.

Support and Resistance Levels for July 19 - 20, 2021

Resistance (3) 1.3821

Resistance (2) 1.3794

Resistance (1) 1.3727

----------------------------

Support (1) 1.3692

Support (2) 1.3660

Support (3) 1.3625

***********************************************************

Trading tip for GBP/USD for July 19 - 20, 2021

Buy above 1.3700, with take profit at 1.3745 (SMA 21) and 1.3822 (EMA 200), stop loss below 1.3670.

Buy if rebound 1.3672, with take profit at 1.3745 (SMA 21) and 1.3822 (EMA 200), stop loss below 1.3635.

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