Forex_Times

💠 GBPUSD: strategic targets for June 7 - 11.

OANDA:GBPUSD   British Pound / U.S. Dollar
Cable is expected to be down during the new week as the buying bias on CoT reports has decreased by 12%.
♻️ The strong nature of the anticipated fall in the British pound confirms the 3% increase in market volume from the new CFTC reports.
The likelihood of the asset's price corridor flattening confirms a 1% increase in institutional investors' locked positions.
🔥 In case of option level test at 1.4250 quote we expect impulsive decline with targets: balance of the week (1.4142) and option marker loss level at 1.3962 price point.
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Trade active: ⚙️ GBPUSD: will we consolidate above the balance of the week? The key support for the first working day of the current trading week is the 1.4142-1.4113 price range, where the balance of the week and the limit buyer is located.
📊 If the buy pattern is formed inside the mentioned support area, we expect the subsequent rise with the target, the limit seller (1.4205).
♻️ A $12 million increase in downside positions further strengthens it.
Trade active: 🌐 GBPUSD: will the balance of the week be broken? The closest resistance for today is the balance of the day (1.4189).
✍️ With the formation of a sell pattern near the mentioned price level, we expect a downward impulse followed by targets: balance of the week (1.4150) and a $11m upside gain (1.4070).
👉 If the price fixes above 1.4189, the hedge resistance zone premium level (1.4306) is the subsequent upside target before the close of trading day.
Trade active: 🌐 GBPUSD: balance of the week unwinding continues. The closest resistance for today is the balance of the day (1.4168).
Further resistance is the limit seller (1.4191).
✍️ The main scenario for today is reaching the mentioned resistance and subsequent corrective decrease to the limit buyer (1.4119).
⚠️ In case of breakdown and fixation below limit buyer (1.4119), we expect continuation of fall to limit buy order of $11m (1.4070).
Trade active: 📌 GBPUSD: locked below the balance of the week! ✍️ The balance of the week level (1.4152) was retested over the past 24 hours.
Limit buy (1.4087) acts as the key support level for today.
💡 In case of successful test of limit buyer (1.4087), limit seller (1.4146) and market maker balance (1.4152) are the upside targets before trading week close.
Trade active: ✍️ GBPUSD: holding above the balance of the week. During the European trading session on Thursday, June 10, successfully tested the limit buyer level (1.4087).
The nearest support level for today is the balance of the day (1.4170).
❗️ In case of successful test of the mentioned support and formation of a buy pattern, we expect a rise with the target, the market maker loss level (1.4261).
🌐 In case of break and fixation below the mentioned support we expect further decrease with the final target before the week close,- marketmaker's biggest net profit level (1.4151).
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