empty
 
 
it
Supporto
Apertura rapida di un conto
Piattaforma di trading
Ricaricare / Prelevare

07.07.202207:47 Forex Analysis & Reviews: Trading plan for GBPUSD on July 07, 2022

Exchange Rates 07.07.2022 analysis

Technical outlook:

GBPUSD dropped to fresh swing lows around 1.1875 intraday on Wednesday before pulling back higher. It has produced a Star Doji candlestick pattern on the daily chart indicating a potential bullish reversal ahead. The currency pair is trading at near 1.1960 at this point in writing. A close above 1.2040-50 on Thursday will confirm a Morning Star candlestick pattern.

GBPUSD has already completed its larger-degree corrective drop, which began from 1.4250 highs in January 2021. The drop unfolded as a double zigzag pattern and might have already terminated at 1.1875 on Wednesday. Also, note that prices are finding support from just below the Fibonacci 0.618 retracement of the larger-degree upswing between 1.1400 and 1.4250 as marked on the chart.

A high probability remains for a bullish reversal if the suggested structure remains intact. Immediate price resistance is seen in the 1.2300-2400 zone. A break higher will confirm that bulls are back in control and are here to stay for long. On the flip side, if prices break below 1.1875, the currency pair could further decline towards 1.1800 before finding support again.

Going forward:

Looking at the 1-hour chart, GBPUSD might print a shallow low below 1.1875 to complete its drop, which began from the 1.2165 highs earlier. Alternatively, if bulls are able to push prices above the 1.1990 interim resistance, it would confirm that bulls are back in control and prices will push further towards the 1.2165-70 resistance.

Trading plan:

Potential rally towards 1.2665 against 1.1800

Good luck!

*La presente analisi del mercato ha un carattere esclusivamente informativo e non rappresenta una guida per l`effettuazione di una transazione.

Oscar Ton,
Analytical expert of InstaSpot
© 2007-2024
Approfittati subito dei consigli degli analisti
Deposita i fondi sul conto di trading
Apri un conto di trading

Le recensioni analitiche di InstaSpot ti renderanno pienamente consapevole delle tendenze del mercato! Essendo un cliente InstaSpot, ti viene fornito un gran numero di servizi gratuiti per il trading efficiente.

In questo momento non potete parlare al telefono?
Ponete la vostra domanda nella chat.