FX.co ★ Trading plan for the US session on February 27 GBP / USD

GBP / USD

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

The buyers could not catch hold of the resistance at the level of 1.3993 in the morning. Only a repeat test of this level with the fixation above it will return the chance of continuing the upward trend in the pound with an upgrade to the level of 1.4042. In case of a further decline in the GBP / USD pair, opening long positions is best after forming a false breakout at the level of 1.3931 or on a rebound from 1.3878.

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

The bears worked the morning sales after forming a false breakout at the level of 1.3993 and now aspire to reach the support level of 1.3931. The breakthrough of this level will lead to the further decline of the British pound with the main purpose of updating the area of 1.3878, where it recommended to lock in profits. In case of a GBP / USD pair growth above the level 1.3993 in the afternoon, it is recommended to go back to selling only for a rebound of 1.4042.

Indicator description:

MA (moving average) 50 days - yellow

MA (moving average) 30 days - green

MACD: fast EMA 12, slow EMA 26, SMA

Bollinger Bands 20