Trading plan for the European session on July 30 GBP / USD

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

To open long positions on the pound I advise only after the breakdown and consolidation above support 1.3119, which will lead to the formation of an upward trend in the area of 1.3165 and 1.3214, where I recommend fixing profits. In the case of a pound drop in the morning, you can go back to shopping after a false breakout around 1.3070 or a rebound from 1.3008.

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

Forming a false breakout and returning to resistance level 1.3119 will be the first signal to sell the pound, which will lead to another update of support 1.3070, the breakdown of which will collapse GBP / USD to the area of 1.3007 minimum, where I recommend fixing profit. In case of growth in the first half of the day above 1.3119, you can sell the pound for a rebound from 1.3165.


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 -