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25.05.201809:03 Forex Analysis & Reviews: Trading plan for the European session of GBP / USD on May 25

Long-term review

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

A good signal to buy pound will be formed after a decline to the support level 1.3340, with the formation of a false breakdown there or after fixing at the level of resistance at 1.3383 and exit to the highs around 1.3419 and 1.3476, where fixing profits are recommended. In the case of a decline at 1.3340 in the morning, we can buy the pound on the rebound from 1.3306.

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

Failure to secure above 1.3383 will be the first signal to GBP/USD sales in order to reduce and breakthrough the support of 1.3340, below which the pair can quickly collapse to the area of minimums for the month at 1.3306 and 1.3267, where fixing profits are recommended. In the case of growth above 1.3383, you can sell the pound for a rebound of 1.3419.

Description of 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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