Trading plan for the US session of GBP / USD on August 28

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

While the trade is above 1.2891, the demand for the pound will continue. The first target will be the resistance level of 1.2931 and the main task will be to update the maximum in the area of 1.2996, where fixing profits are recommended. In case of a pound drop in the afternoon, you can buy immediately at a rebound from 1.2838.

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

The formation of a false breakout at 1.2931 will be a signal to sell the pound in order to return to the support level of 1.2891, which will lead to a larger decline with a minimum test of 1.2838 where fixing profits are recommended. If the pound is higher than 1.2931, you can sell for a rebound of 1.2996.

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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
  • Bollinger Bands 20
The material has been provided by InstaForex Company - www.instaforex.com