Trading plan for the European session of GBP / USD pair on May 23
May 23, 2018 12:24 pm
To open long positions for GBP / USD pair, you need:
Only the formation of a false breakout in the area of 1.3391 will be a signal to buy the pound. In a different scenario, the new long positions of GBP / USD pair are best seen after the update of the next lows around 1.3366 and 1.3335. However, the entire calculation in the morning will be on good inflation data, which can return the pound to the resistance levels of 1.3418 and 1.3446.
To open short positions for GBP / USD pair, you need:
A break and consolidation below 1.3391 will be a good signal to sell the pound in expectation of renewing new lows in the area of 1.3366 and 1.3335, where fixing profits are recommended. In case of GBP / USD growth in the first half of the day, you can search for sales on a false breakout from 1.3418, or on a rebound from 1.3446.
Description of indicators
MA (average sliding) 50 days – yellow
MA (average sliding) 30 days – green
MACD: fast EMA 12, slow EMA 26, SMA 9
Bollinger Bands 20
The material has been provided by InstaForex Company – www.instaforex.com
To open long positions for GBP / USD pair, you need:
Only the formation of a false breakout in the area of 1.3391 will be a signal to buy the pound. In a different scenario, the new long positions of GBP / USD pair are best seen after the update of the next lows around 1.3366 and 1.3335. However, the entire calculation in the morning will be on good inflation data, which can return the pound to the resistance levels of 1.3418 and 1.3446.
To open short positions for GBP / USD pair, you need:
A break and consolidation below 1.3391 will be a good signal to sell the pound in expectation of renewing new lows in the area of 1.3366 and 1.3335, where fixing profits are recommended. In case of GBP / USD growth in the first half of the day, you can search for sales on a false breakout from 1.3418, or on a rebound from 1.3446.
Description of indicators
The material has been provided by InstaForex Company – www.instaforex.com
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