21.06.201809:42 Forex Analysis & Reviews: Trading plan for the European session on June 21 GBP / USD

Long-term review

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To open long positions for GBP / USD, you need:

The formation of a false breakout at 1.3146 and the Bank of England hinting at raising interest rates in the near future will be the first signal for the opening of long positions in the pound with the main goal of returning and consolidating above the level of 1.3180. From this level, one can expect an upward correction to the area of 1.3213, where it is recommended to lock in profits. In case of a breakdown of 1.3146, opening long positions in the GBP / USD is best done around the areas of 1.3104 and 1.3077.

To open short positions for GBP / USD, you need:

Sellers will try to gain a foothold below the support level of 1.3146, which will lead to the formation of a new downward wave in the area of 1.3104 and 1.3077, where it is recommended to lock in profits. In case of growth at the level of 1.3180 and a resistance in the first half of the day, selling the pound can be returned to the rebound from the areas of 1.3213 and 1.3269.

Description of indicators

MA (moving average) 50 days - yellow

MA (moving average) 30 days - green

MACD: fast EMA 12, slow EMA 26, SMA 9

Bollinger Bands 20

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