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03.05.201802:10 Forex Analysis & Reviews: Trading plan for the US session on May 2 GBP / USD

Long-term review

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

Buyers got to the resistance level of 1.3653, which at the moment limits the further growth of the pair. In case of a re-test of the level of 1.3653, we can count on the continuation of the pound's growth with an exit to the resistance areas of 1.3697 and 1.3755. The formation of a false breakdown in the middle of the channel at 1.3613 will also be a signal for buying the GBP / USD.

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

Bears are selling at the resistance level 1.3653 and their first goal is the support level of 1.3613. A return to this level will lead to a re-lowering of the pound to the lower channel boundary area of 1.3576, where it is recommended to lock in profits. In case of returning to the resistance level of 1.3653, it is best to leave short positions and wait for the update at the level of 1.3697.

Indicator description:

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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