FX.co ★ GBP/USD: plan for the European session on June 25. Buyers of the pound are aimed at a breakthrough of 1.2762

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

The technical picture for the pound has not changed. The purpose of the bulls is a major resistance of 1.2762, the breakthrough of which will provide good support to buyers, which will lead to the update of the highs in the area of 1.2800 and 1.2860, where I recommend taking the profit. In the downward correction scenario, you can look at long positions in the pound on a false breakout from the support of 1.2725 or on a rebound from the minimum of 1.2687.

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

Like yesterday, the sellers of the pound will try not to let the pair above the resistance of 1.2762, and the formation of a false breakout there will be a direct signal to open short positions against the trend, counting on a larger downward correction to the support area of 1.2725 and 1.2687, where I recommend taking the profit. However, more interesting levels for selling GBP/USD today are seen at the highs of 1.2799 and 1.2858.

Indicator signals:

Moving Averages

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

Bollinger Bands

If the pound falls, the support will be provided by the lower limit of the indicator in the area of 1.2725.

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