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26.04.201809:38 Forex Analysis & Reviews: Trading plan for the European session of GBP / USD pair on April 26

Long-term review

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

It is better to expect new purchases of the pound after the return and consolidation at the resistance level of 1.3965. Above which, the areas 1.4020 and 1.4078 are open, where fixing profits are recommended. In case the British pound dropped in the morning, good support should be provided at the level of 1.3923. When it breaks down, new purchases of GBP / USD are best seen after testing the levels of 1.3892 and 1.3845.

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

A repeat support test of 1.3923 could lead to an increase in short positions of the pound with the main goal of reaching new monthly lows around 1.3892 and 1.3845, ere fixing profits are recommended. In case of growth in the first half of the day, the GBP / USD pair is above the resistance of 1.3965. It is better to return to short positions after testing the level of 1.4020 and on the rebound from 1.4078.

Indicators description

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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