Trading plan for the European session on June 12 for the GBP/USD

To open long positions on GBP/USD it is required:

The formation of a false breakout at 1.3344 with a return to resistance level 1.3370 would be a good signal to buy pound, the main target of which is the 1.3400 area, where it is recommended recording profit in the morning. If the GBP/USD falls below the level of 1.3344, consider long positions on a rebound from 1.3303.

To open short positions on GBP/USD it is required:

Sellers will try to consolidate below 1.3344 in the morning, and weak labor market data may lead to a larger selling of the pound to area 1.3303 and 1.3255, where it is recommended recording profits. In the case of growth above 1.3370, it is recommended to return to selling the GBP/USD from resistance of 1.3400.

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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
The material has been provided by InstaForex Company - www.instaforex.com