GBP/USD: technical analysis
18 June 2019, 12:18
| Scenario | |
|---|---|
| Timeframe | Intraday |
| Recommendation | SELL |
| Entry Point | 1.2531 |
| Take Profit | 1.2480 |
| Stop Loss | 1.2560 |
| Key Levels | 1.2391, 1.2478, 1.2509, 1.2558, 1.2604, 1.2654, 1.2710, 1.2762, 1.2814 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 1.2660 |
| Take Profit | 1.2710 |
| Stop Loss | 1.2630 |
| Key Levels | 1.2391, 1.2478, 1.2509, 1.2558, 1.2604, 1.2654, 1.2710, 1.2762, 1.2814 |
GBP/USD, H4
On the 4-hour chart, the instrument decreases along the lower border of Bollinger bands, the indicator cloud is greatly expanded. The MACD histogram is in the negative area, the signal line crosses the body of the histogram downwards, forming a strong signal for opening short positions. Stochastic is in the oversold zone, the oscillator lines are directed horizontally.
GBP/USD, D1
On the daily chart, the downward trend is very strong, the instrument has broken the lower border of Bollinger bands downwards, the price range is expanding. The MACD histogram is in the negative region, keeping the signal to open short positions. Stochastic crosses the border of the oversold zone downwards, the sell signal is still relevant.
Key levels
Resistance levels: 1.2558, 1.2604, 1.2654, 1.2710, 1.2762, 1.2814.
Support levels: 1.2509, 1.2478, 1.2391.
Trading tips
Short positions can be opened from the current level with the target at 1.2480 and stop loss 1.2560. Implementation period: 1–3 days.
Long positions can be opened from the level of 1.2660 with the target at 1.2710. Stop loss is 1.2630. Implementation period: 3–5 days.
On the 4-hour chart, the instrument decreases along the lower border of Bollinger bands, the indicator cloud is greatly expanded. The MACD histogram is in the negative area, the signal line crosses the body of the histogram downwards, forming a strong signal for opening short positions. Stochastic is in the oversold zone, the oscillator lines are directed horizontally.
GBP/USD, D1
On the daily chart, the downward trend is very strong, the instrument has broken the lower border of Bollinger bands downwards, the price range is expanding. The MACD histogram is in the negative region, keeping the signal to open short positions. Stochastic crosses the border of the oversold zone downwards, the sell signal is still relevant.
Key levels
Resistance levels: 1.2558, 1.2604, 1.2654, 1.2710, 1.2762, 1.2814.
Support levels: 1.2509, 1.2478, 1.2391.
Trading tips
Short positions can be opened from the current level with the target at 1.2480 and stop loss 1.2560. Implementation period: 1–3 days.
Long positions can be opened from the level of 1.2660 with the target at 1.2710. Stop loss is 1.2630. Implementation period: 3–5 days.
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