06.06.201915:43 Forex Analysis & Reviews: GBP/USD: plan for the American session on June 6. The pound is growing due to the weakness of the US dollar

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

Buyers of the pound are trying to gain a foothold above the resistance of 1.2713, which will allow to build a new upward trend with an update of the maximum in the area of 1.1257, where the upper limit of the current upward channel passes. In case of an unsuccessful consolidation above 1.2713, it is best to consider new purchases on a false breakout from the low of 1.2669 or on a rebound from a larger support of 1.2615.

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

The short positions in GBP/USD are best returned from the resistance of 1.2757 or a rebound from the new high of 1.2800. The main task of the bears for the second half of the day will be to consolidate below the resistance of 1.2713, which will quickly push the pound into the area of the minimum of the day 1.2669, where I recommend fixing the profit.

Indicator signals:

Moving Averages

Trading is conducted above 30 and 50 moving averages, which indicates an attempt by bulls to build a new upward trend.

Bollinger Bands

The breakthrough of the upper limit of the indicator leaves the market on the side of the pound buyers.

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