FX.co ★ Trading plan for the European session GBP / USD on May 2

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

Only a return to the resistance level of 1.3613 allow will allow us to count on a larger upward correction for the pound in the area of resistance at 1.3653 and 1.3697, where fixing profits are recommended. In case of a further decline of the GBP / USD pair under the support level 1.3576, new long positions can be searched after updating the levels 1.3542 and 1.3498.

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

While the trade is below 1.3613, the pressure on the pound will be maintained, which will lead to a further decrease to the monthly low of 1.3576. Breaking this level opens the direct road to 1.3542 and 1.3498, where fixing profits are recommended. In the case of growth above 1.3613 in the morning, sales are expected after the renewal of resistances 1.3653 and 1.3697.

Indicators description

• MA (average sliding) 50 days - yellow
• MA (average sliding) 30 days - green
• MACD: fast EMA 12, slow EMA 26, SMA 9
• Bollinger Bands 20