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02.05.201800:59 Forex Analysis & Reviews: Trading plan for the US session on May 1 for GBP/USD

Long-term review

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

Buyers of the pound now have to count only on the level of support 1.3648. In the event of its breakdown, long positions can be opened immediately to a rebound from 1.3613. The main goal of the buyers will be the return and consolidation by the end of the day at the level of 1.3717, which will allow considering the correction to the area of 1.3782 and 1.3832.

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

While the trade is below 1.3717, you can count on a further drop in the pound. Forming a false breakout at this level will be an additional signal to open short positions in order to update support 1.3648 and 1.3613, where it is recommended lock in profits. If you return to 1.3717 in the afternoon, one can sell the pound for a rebound of 1.3782.

Descriptors

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

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