22.05.201801:01 Forex Analysis & Reviews: Trading plan for the US session May 21 GBP/USD

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

It would be best to consider buying the pound after the return and consolidation at the level of 1.3410, which will allow us to count on the update of the daily high in the resistance area of 1.3448, where I recommend to lock in the profit. In case of an unsuccessful attempt to return to 1.3410, purchases of the GBP/USD can be returned to the rebound from the support of 1.3366.

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

The formation of a false breakout and the return of the GBP/USD pair to the level of 1.3410 in the second half of the day will be a good signal for the opening of short positions, in order to reach the support of 1.3366, where I recommend profit-taking. In case of further growth of the pound, you can sell immediately on the rebound from 1.3448 and after the update of the 30-day moving average.

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