Trading plan for the European session July 10 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 1.3257 and good data on the UK economy. Only the trade at 1.3257 will be a signal to open long positions in return for the resistance area 1.3311, where I recommend fixing the profit. If the pound is lowered in the morning under the support level 1.3223, long positions can be opened for a rebound from 1.3157 or after a false breakout from the level of 1.3189.

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

An unsuccessful attempt to consolidate at 1.3257 resistance level and return to it under the first half of the day will be the first signal for the opening of short positions on the pound, with the main goal of reducing to support 1.3223, the breakdown of which will lead to a larger sale, with a yield to the lows in the area of 1.3189 and 1.3157 . In the case of growth above 1.3257, the pound can be sold at a rebound of 1.3311.

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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