GBP/USD | British Pound to US Dollar Trading Analysis
According to the Head of Bank of England E. Bailey, in June the regulator may expand the QE program. The Bank of England does not refuse any further measures - all options remain open. In the short-term negative rates are out of the question. Bailey does not want to exaggerate the difference between the monetary policy of the Bank of England and the program of perpetual purchase of government bonds.
GBP/USD, 30 min
Pivot: 1.2385
Analysis:
Provided that the currency pair is traded above 1.2350, follow the recommendations below:
Time frame: 30 min
Recommendation: long position
Entry point: 1.2385
Take Profit 1: 1.2420
Take Profit 2: 1.2450
Alternative scenario:
In case of breakdown of the level 1.2350, follow the recommendations below:
Time frame: 30 min
Recommendation: short position
Entry point: 1.2350
Take Profit 1: 1.2330
Take Profit 2: 1.2305
Comment:
RSI shows the possibility of an upward trend during the day.
Key levels:
Resistance
Support
1.2475
1.2350
1.2450
1.2330
1.2420
1.2305
GBP/USD, D1
Pivot: 1.2350
Analysis:
While the price is above 1.2225, follow the recommendations below:
Time frame: D1
Recommendation: long position
Entry point: 1.2350
Take Profit 1: 1.2873
Take Profit 2: 1.3095
Alternative scenario:
If the level 1.2225 is broken-down, follow the recommendations below.
Time frame: D1
Recommendation: short position
Entry point: 1.2225
Take Profit 1: 1.2160
Take Profit 2: 1.1950
Comment:
RSI shows the possibility of an upward trend in the medium term.
Key levels:
Resistance
Support
1.3095
1.2225
1.2870
1.2160
1.2640
1.1950
We also advise you to pay attention to the following currency pairs for intra-day trading:
AUD/USD – buy above 0.6490 with 0.6570 and 0.6600 as Take Profit targets. Alternative scenario - if the level of 0.6490 is broken-down, you should consider selling with the targets 0.6470 and 0.6445 as Take Profit. USD/CAD - short positions below 1.3970 with 1.3915 and 1.3885 targets as Take Profit. Alternative scenario - if the level of 1.3970 is broken-out, buy with the targets 1.3915 and 1.3985 as Take Profit. EUR/USD – buy above 1.0820 with 1.0855 and 1.0885 targets as Take Profit. Alternative scenario - if the level 1.0820 is broken-down, sell with the TP 1.0790 and 1.0765.
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