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20.04.201809:26 Forex Analysis & Reviews: Trading plan for the European session on April 20 GBP / USD

Long-term review

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

Buyers of the pound will try to keep the support level at 1.4048, and a return to resistance 1.4084 will be a good signal for the opening of long positions, with the aim of correction in the area of 1.4139 and 1.4196. In the case of a decline to 1.4048 in the morning, consider buying new pound after upgrading the support level of 1.4004 or a rebound from 1.3951.

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

While the trade is below the level of 1.4084, the pressure on the pound will be maintained. A retest of 1.4048 could lead to a larger sellout in GBP / USD to update support for 1.4004 and exit at 1.3951, where I recommend fixing the profit. In the case of growth above 1.4084 in the morning, selling the pound can be on the rebound from 1.4139.

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

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