empty
 
 

07.12.202109:48 Forex Analysis & Reviews: Analysis and trading tips for GBP/USD on December 7

Analysis of transactions in the GBP / USD pair

Few traders took long positions on Monday because even though market signals said to buy, the MACD line was so far above zero, which means that the upside potential of GBP / USD is limited. The signal to sell that followed also did not make profits despite the MACD indicator being in the overbought area. At best, what traders could do was to break even. No other signal appeared for the rest of the day.

Exchange Rates 07.12.2021 analysis

GBP / USD rose a bit yesterday morning, thanks to the good PMI report for the UK construction sector. Meanwhile, the statements of Bank of England Deputy Governor Ben Broadbent, which many expected to incite more demand for pound, were ignored by the market.

A stronger rally may be seen today since there are no UK statistics scheduled to be published. And since the upcoming report on the foreign trade balance in the US is unlikely to shake the market, traders should stick to bullish transactions in GBP / USD.

For long positions:

Buy pound when the quote reaches 1.3295 (green line on the chart) and take profit at the price of 1.3329 (thicker green line on the chart). A rally will jump-start the bullish correction anticipated by buyers for a long time.

Before buying, make sure that the MACD line is above zero, or is starting to rise from it. It is also possible to buy at 1.3271, but the MACD line should be in the oversold area, as only by that will the market reverse to 1.3295 and 1.3329.

For short positions:

Sell pound when the quote reaches 1.3271 (red line on the chart) and take profit at the price of 1.3236. Strong data on the US economy will bring pressure back on GBP / USD.

Before selling, make sure that the MACD line is below zero, or is starting to move down from it. Pound can also be sold at 1.3295, but the MACD line should be in the overbought area, as only by that will the market reverse to 1.3271 and 1.3236.

Exchange Rates 07.12.2021 analysis

What's on the chart:

The thin green line is the key level at which you can place long positions in the GBP/USD pair.

The thick green line is the target price, since the quote is unlikely to move above this level.

The thin red line is the level at which you can place short positions in the GBP/USD pair.

The thick red line is the target price, since the quote is unlikely to move below this level.

MACD line - when entering the market, it is important to be guided by the overbought and oversold zones.

Important: Novice traders need to be very careful when making decisions about entering the market. Before the release of important reports, it is best to stay out of the market to avoid being caught in sharp fluctuations in the rate. If you decide to trade during the release of news, then always place stop orders to minimize losses. Without placing stop orders, you can very quickly lose your entire deposit, especially if you do not use money management and trade large volumes.

And remember that for successful trading, you need to have a clear trading plan. Spontaneous trading decisions based on the current market situation is an inherently losing strategy for an intraday trader.

*Analisis pasar yang diposting disini dimaksudkan untuk meningkatkan pengetahuan Anda namun tidak untuk memberi instruksi trading.

Jakub Novak,
Pakar analisis InstaForex
© 2007-2022
Manfaat dari rekomendasi para analis saat ini
Akun trading teratas
Buka akun trading

Tinjauan analitis InstaForex akan membuat Anda menyadari sepenuhnya tren pasar! Sebagai klien InstaForex, Anda dilengkapi dengan sejumlah besar layanan gratis untuk trading yang efisien.




  • Trade Wise, Win Devise
    Top up akun anda dengan dana minimal $500, daftar kontes, dan dapatkan peluang untuk memenangkan perangkat seluler.
    GABUNG KONTES
  • Ferrari from InstaForex
    Top up akun anda dengan dana minimal $1.000
    gabung kontes dan menangkan Ferrari
    F8 Tributo
    GABUNG KONTES
  • Chancy Deposit
    Deposit akun anda dengan $3.000 dan menangkan $1.000
    GABUNG KONTES
  • 100% Bonus
    Kesempatan langka untuk mendapatkan bonus 100% pada deposit anda
    DAPATKAN BONUS
  • 55% Bonus
    Ajukan bonus 55% pada setiap deposit anda
    DAPATKAN BONUS
  • 30% Bonus
    Raih bonus 30% setiap kali anda top up
    DAPATKAN BONUS
Tidak bisa bicara sekarang?
Tanyakan pertanyaan anda lewat chat.