20.06.201914:55 Forex Analysis & Reviews: GBP / USD plan for the US session on June 20. Pound expectedly increased after the decision of the BoE not to change interest rates

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

The pound continued to grow and buyers coped with the morning task and broke through above the resistance of 1.2688, which allowed maintaining an upward momentum and get to the level of 1.2729, to which I also paid attention. Currently, it is best to return to long positions after the formation of a false breakdown in the support area of 1.2680 or to rebound from today's low in the area of 1.2639. The purpose of the bulls will be a repeated test and the breakdown of resistance 1.2729, which will lead to a maximum in the area of 1.2760, where I recommend taking profits.

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

Pound sellers expectedly to return only after the update of resistance at 1.2730 and their main goal in the second half of the day will be a decline below 1.2680, which now acts as a support. Closing of the day below this range will push the pound just below to an area of minimum at 1.2639, where buyers will try to form the lower boundary of the rising channel. Under the scenario of re-growth in GBP/USD pair in the second half of the day, it is best to return to short positions on a rebound from the resistance of 1.2760.

Indicator signals:

Moving averages

Trade is conducted above 30 and 50 moving averages, which indicates the preservation of the bullish nature of the market.

Bollinger bands

In the case of a pair decline, support will be provided by the average indicator border in the area of 1.2679.

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