08.03.201811:08 Forex Analysis & Reviews: Trading plan for the European session March 8 GBP / USD

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

To continue the growth, the buyers of the pound need to gain a foothold above the resistance of 1.3910, which will bring new players to the market and will count on the renewal of the level of 1.3937, as well as a further exit to the monthly maximum near 1.3969, where I recommend fixing the profits. In case of GBP / USD decline, considering long positions is best only for a rebound from 1.3853 or after updating a larger support of 1.3817.

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

The formation of a false breakout at 1.3910 can lead to a correctional sale of the British pound with the main purpose of updating the area of 1.3853, and an exit at 1.3817, where I recommend fixing the profit. In the case of growth above the level of 1.3910, I recommend to return to short positions in GBP / USD only after a false breakdown at 1.3937, or to a rebound from 1.4004.

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