You are here: Home > articles > Forex > GBP / USD: plan for the European session on October 18. Traders are waiting for the results of the EU summit and news on
GBP / USD: plan for the European session on October 18. Traders are waiting for the results of the EU summit and news on
October 18, 2018 3:23 pmVideo
Latest News
- Analysis of GBP/USD on April 26th. The pound trades on Friday without changes April 26, 2024
- USD/JPY: Simple trading tips for novice traders on April 26th (US session) April 26, 2024
- GBP/USD: Simple trading tips for novice traders on April 26th (US session) April 26, 2024
- EUR/USD: Simple trading tips for novice traders on April 26th (US session) April 26, 2024
- GBP/USD: trading plan for the US session on April 26th (analysis of morning deals). The pound attempted, but it didn’t go April 26, 2024
- EUR/USD: trading plan for the US session on April 26th (analysis of morning deals). The euro continues to rise April 26, 2024
- Trading Signals for GOLD (XAU/USD) for April 26-29, 2024: buy above $2,324 and sell below $2,352 (21 SMA – 6/8 Murray) April 26, 2024
- Technical Analysis – AUDUSD set to complete best week of the year April 26, 2024
- Will Apple finally drop its AI hint? – Stock Markets April 26, 2024
- Bitcoin slips as markets pare back Fed rate cuts – Crypto News April 26, 2024
- EUR/USD. April 26th. Bulls continue to advance after the GDP report April 26, 2024
- Can Chinese PMIs solidify the economy’s recovery prospects? – Preview April 26, 2024
- Weekly Forex Outlook: 26/04/2024 – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too April 26, 2024
- XM’s Lombok Collaboration: Brightening Futures April 26, 2024
- Week Ahead – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too April 26, 2024
- Market Comment – Yen keeps sinking after Bank of Japan decision April 26, 2024
- Fed faces dilemma amid sticky inflation and slowing economy – Preview April 26, 2024
- USD/JPY: trading tips for beginners for European session on April 26 April 26, 2024
- GBP/USD: trading tips for beginners for European session on April 26 April 26, 2024
- EUR/USD: trading tips for beginners for European session on April 26 April 26, 2024
To open long positions on GBP / USD, you need:
Buyers will try to form a false breakdown at the support level of 1.3083, which will lead to an upward correction in the pound with an update of the resistance level of 1.3119. However, the main goal will be the breakdown and consolidation above the level of 1.3119, which will allow us to expect a larger increase to the highs of 1.3152 and 1.3186, where I recommend fixing the profits. Any positive news on Brexit will cause a sharp rise in the pound with a break of monthly highs around 1.3223. In the case of a decline below the support level of 1.3083, you can go back to the rebound from the lows of 1.3032 and 1.2982.
To open short positions on GBP / USD, you need:
It is necessary to sell a pound very carefully, as news on Brexit can provoke a sharp influx of buyers. Fixing below the support level of 1.3083 will increase the pressure on the pair, which will open a direct road to the weekly lows to 1.3032 and 1.2982 areas, where I recommend fixing the profits. An unsuccessful consolidation and return under the resistance level of 1.3119 in the first half of the day will also be a signal to sell the pound in order to break 1.3083. Otherwise, short positions can be opened for a rebound between 1.3152 and 1.3186. In the event of a sharp rise in positive news on Brexit, I advise you to abandon sales of the pound.
Indicator signals:
Moving Averages
Trade is conducted under the 30-and 50-day average, which indicates a further decrease in the pound. In the case of an upward correction, the 30-day average will play the role of good resistance.
Bollinger bands
A break of the lower border of the Bollinger Bands indicator around 1.3077 will be a direct signal to open short positions in the pound. The average border is at the level of 1.3115, which will limit the upward potential in pounds in case of a correction.
Description of indicators
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: