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21.05.201809:11 Forex Analysis & Reviews: Trading plan for the European session on May 21 for the GBP/USD

Long-term review

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

The first buyers of the pound return after upgrading the level of 1.3410, however, to confirm the signal to buy, it is best to wait for the formation of a false breakdown in this range. In the case of a further decline of the pound below the level of 1.3410, it is recommended to return to buying on the support test 1.3366 and 1.3335.

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

While the trade is below 1.3448, the pressure on the pound will be maintained, and the breakthrough of support at 1.3410 will be an additional signal to increase the short positions in GBP/USD in order to update the new lows in the 1.3366 and 1.3335 areas, where it is recommend locking in the profit.

Description of indicators

MA (moving average) 50 days - yellow
MA (moving average) 30 days - green
MACD: fast EMA 12, slow EMA 26, SMA 9
Bollinger Bands 20

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