FX.co ★ Trading plan for the US session on March 6 GBP/USD

GBP/USD

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

Buyers will aim for a resistance of 1.3894, and the consolidation above will allow us to count on the continued growth of the GBP/USD with an exit at 1.3937 and 1.3969, where I recommend locking in profits. In case the pound declines in the afternoon, you can go back to your purchases after an adjustment downwards to the area of 1.3855.

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

It would be best to consider short positions in the pound after a resistance in the area of 1.3894 with the formation of a false breakdown there, or sell immediately for a rebound from 1.3937. The main goal of the sellers will be closing the day in the area of support at 1.3855.

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