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04.05.201814:27 Forex Analysis & Reviews: Trading plan for the US session on May 4 GBP / USD

Long-term review

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

Buyers managed to make a false breakdown from the low of yesterday, forming a new level of support 1.3542. As long as the trade is above this range, you can count on the growth and break of resistance 1.3623, which will lead the GBP / USD to the larger levels around 1.3689 and 1.3755, where I recommend fixing the profit. In the event of a further drop in the pound, purchases can be sought after upgrading support 1.3498 and 1.3459.

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

A return to support level 1.3542 could lead to a new wave of GBP / USD sales to 1.3498 and 1.3459, where I recommend fixing profit. In the case of growth above 1.3623, short positions in the pound are best sought after the 1.3689 test, or on a rebound of 1.3755.

Description of indicators

MA (average sliding) 50 days - yellow

MA (average sliding) 30 days - green

MACD: fast EMA 12, slow EMA 26, SMA

Bollinger Bands 20

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