Trading plan for the European session July 9 GBP / USD

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

To continue the growth of the British pound, buyers need a breakthrough and consolidation above the resistance of 1.3334, which from the first will make it very difficult. The only breakdown of this range opens the way to new highs in the area of 1.3383 and 1.3437, where I recommend fixing profits. If the pound is lowered in the morning, long positions can be opened to rebound from support 1.3257 or after a false breakdown from the level of 1.3292.

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

An unsuccessful attempt to consolidate at resistance level 1.3334 and return under it in the first half of the day will be the first signal for opening short positions on the pound, with the main goal of reducing to the middle of the channel 1.3292 and updating this week's low at 1.3257. In the case of growth above 1.3334, you can sell the pound for a rebound of 1.3383.

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Description of indicators

MA (average sliding) 50 days - yellow

MA (average sliding) 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