05.04.201803:08 Forex Analysis & Reviews: Trading plan for the US session on April 4 GBP / USD

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

To consider new purchases of the pound, it is preferred to buy after returning and consolidating above the middle of the side channel 1.4050, from where the upward trend may lead to an update of 1.4085 and a breakthrough in the area of 1.4118 where it is recommended to fix profits. If the pound is down in the second half of the day, the support will be in the area of 1.4010 or you can buy immediately for a rebound from 1.3971.

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

While the trade is below 1.4050, a decline in the GBP / USD can be expected alongside with the potential updating of the lower border of the channel in the region of 1.4010. Fixing a position under this range will lead to a larger pound selling with a minimum yield of 1.3971 and 1.3922, where it is recommended to fix profits. In case of growth above the 1.4050 level in the afternoon. Sales could possibly return, testing the regions 1.4085 and 1.4118.

Indicators description

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

* The presented market analysis is informative and does not constitute a guide to the transaction.