empty
 
 
18.07.2022 03:25 PM
Trading Signal for GBP/USD for July 18 - 19, 2022: buy above 1.1962 (1/8 Murray - 21 SMA)

This image is no longer relevant

GBP/USD is extending its technical bounce from 1.1758, the lowest level since March 2020. The pair is now trading at 1.1960 with a positive bias. The intraday move higher extended during the early part of the European session which helped the pair to reach a high above 1.1980.

The dollar index (USDX), after reaching a high of 109.11, is going through a technical correction, which has contributed to the rise of GBP/USD.

Risk appetite led to profit taking around the US dollar. If the correction continues this week, the GBP/USD pair could reach the 200 EMA at 1.2152.

According to the 4-hour chart, we can see that the British pound sharply broke the downtrend channel formed on June 23. This is a positive sign but we should expect a confirmation pullback towards the 21 SMA around 1.1864.

A technical bounce around the 21 SMA (1.1861) and around the downtrend channel that was broken could revive the bullish move so that the price could reach 2/8 Murray at around 1.2207.

The eagle indicator is showing a positive signal, which could favor the recovery of the British pound in the coming days. However, the pair is approaching an overbought zone. Below the 200 EMA, it is likely to resume its downtrend.

Our trading plan for the next few hours is to wait for a technical bounce at 1.1865 (21 SMA) to buy, with targets at 1.1962 and 1.20. On the other hand, should it trade above 1/8 Murray (1.1962), it will be a signal to continue buying with targets at 1.20 and 1.2152 (200 EMA).

Dimitrios Zappas,
InstaForex के विश्लेषणात्मक विशेषज्ञ
© 2007-2025
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    कॉन्टेस्ट में हिस्सा लें
  • चैन्सी डिपॉजिट
    $ 3,000 के साथ अपना खाता जमा करें और प्राप्त करें $10000 अधिक!
    में जनवरी हम आकर्षित करते हैं $10000 चैंसी डिपॉज़िट में
    ट्रेडिंग अकाउंट में $ 3,000 जमा करके जीतने का अवसर प्राप्त करें इस शर्त को पूरा करके आप प्रतियोगिता में भाग ले सकते हैं
    कॉन्टेस्ट में हिस्सा लें
  • ट्रेड वाइज़, विन डिवाइस
    कम से कम $500 के साथ अपने खाते में टॉप अप करें, कॉन्टेस्ट के लिए साइन अप करें और मोबाइल डिवाइस जीतने का मौका पाएं।
    कॉन्टेस्ट में हिस्सा लें
  • 100% बोनस
    अपनी जमा राशि पर 100% बोनस प्राप्त करने का आपका अनूठा अवसर
    बोनस पायें
  • 55% बोनस
    अपनी प्रत्येक डिपॉजिट पर 55% बोनस के लिए आवेदन करें
    बोनस पायें
  • 30% बोनस
    हर बार खाता टॉप अप करने पर 30% बोनस प्राप्त करें
    बोनस पायें

अनुशंसित लेख

अभी बात नहीं कर सकते?
अपना प्रश्न पूछें बातचीत.
Widget callback