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08.03.201802:41 Forex Analysis & Reviews: Trading plan for the US session on March 7 GBP/USD

Long-term review

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GBP/USD

To open long positions for GBP/USD, it is required:

In the pound, support for 1.3853 was formed, and as long as the trade is going above this range, we can expect further growth to the resistance of 1.3903. In the event of a breakout of 1.3853 in the afternoon, it's best to expect a long-term rebound from 1.3817.

To open short positions for GBP/USD, it is required:

A retest of 1.3853 could lead to a larger sellout of the GBP/USD for the purpose of updating 1.3817 and the high point of exit at 1.3765, where I recommend locking in the profit. If the pound is rising in the afternoon, you can count on short positions after the renewal of 1.3903.

Indicator description

Moving Average (average sliding) 50 days - yellow
Moving Average (average sliding) 30 days - green
MACD: fast EMA 12, slow EMA 26, SMA
Bollinger Bands 20

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