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10.08.201800:58 Forex Analysis & Reviews: Trading plan for the US session August 9 GBP/USD

Long-term review

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

Buyers were able to hold the weekly lows and formed a false breakout and a new lower limit around 1.2843. However, it is still necessary to break through the level of 1.2893 to resume the corrective growth. Only after a consolidation at this range, you can count on an upward trend in the region at 1.2943 and 1.2996. In the event of a decline in the pound in the afternoon, support will be provided by the area of 1.2843 and 1.2815.

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

A breakout and consolidation below the level of 1.2853 in the first half of the day turned out to be a false signal for selling. At the moment, sellers are trying to keep the pair below 1.2893, and so far they manage to do it. However, it is best to consider new short positions on the rebound from the greater resistance of 1.2943.

Indicator description

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

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