For Traders

Analytical Reviews

Trading plan

01.03.201817:06 Forex Analysis & Reviews: Trading plan for the US session on March 1 GBP / USD

Long-term review

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

GBP / USD

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

The formation of a false breakout in the support area of 1.3735 occurred, however, there is no serious demand for the British pound. While trading is above the level of 1.3735, one can expect an upward correction to 1.3776 area with resistance update to 1.3831, where I recommend fixing the profit. In the case of a breakout of 1.3735, consider long positions best for a rebound of 1.3648.

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

A repeat test of 1.3735 will lead to a further drop in the British pound with the main purpose of updating support at 1.3707 and the level of monthly lows around 1.3648, where I recommend fixing profits. In case of a pound's increase, sales can be viewed after an unsuccessful breakdown of 1.3776 or open short positions immediately at a rebound of 1.3831.

Indicators

MA (average sliding) 50 days - yellow

MA (average sliding) 30 days - green

MACD: fast EMA 12, slow EMA 26, SMA

Bollinger Bands 20

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.