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30.07.201808:37 Forex Analysis & Reviews: Trading plan for the European session on July 30 GBP / USD

Long-term review
This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

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

To open long positions on the pound I advise only after the breakdown and consolidation above support 1.3119, which will lead to the formation of an upward trend in the area of 1.3165 and 1.3214, where I recommend fixing profits. In the case of a pound drop in the morning, you can go back to shopping after a false breakout around 1.3070 or a rebound from 1.3008.

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

Forming a false breakout and returning to resistance level 1.3119 will be the first signal to sell the pound, which will lead to another update of support 1.3070, the breakdown of which will collapse GBP / USD to the area of 1.3007 minimum, where I recommend fixing profit. In case of growth in the first half of the day above 1.3119, you can sell the pound for a rebound from 1.3165.

Exchange Rates 30.07.2018 analysis

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

Miroslaw Bawulski
Analytical expert of InstaForex
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