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05.04.201803:08 Forex Analysis & Reviews: Trading plan for the US session on April 4 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.

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

To consider new purchases of the pound, it is preferred to buy after returning and consolidating above the middle of the side channel 1.4050, from where the upward trend may lead to an update of 1.4085 and a breakthrough in the area of 1.4118 where it is recommended to fix profits. If the pound is down in the second half of the day, the support will be in the area of 1.4010 or you can buy immediately for a rebound from 1.3971.

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

While the trade is below 1.4050, a decline in the GBP / USD can be expected alongside with the potential updating of the lower border of the channel in the region of 1.4010. Fixing a position under this range will lead to a larger pound selling with a minimum yield of 1.3971 and 1.3922, where it is recommended to fix profits. In case of growth above the 1.4050 level in the afternoon. Sales could possibly return, testing the regions 1.4085 and 1.4118.

Indicators description

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

* The presented market analysis is informative and does not constitute a guide to the transaction.

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