Trading plan for the European session on August 22 GBP / USD

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

New long positions are best to open after the pound is reduced to the support area of 1.2875 or immediately to a rebound from the level of 1.2845. The main goal of buyers will be to update the weekly maximum of 1.2943, where I recommend fixing the profits.

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

It is best to consider short positions in the pound after updating the resistance in the area of 1.2943 or after returning and fixing under the large support level of 1.2875, which will lead to a more serious pressure with a return to 1.2845. The main goal of the sellers will be a minimum of 1.2814, where I recommend fixing the profits.

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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