Trading plan for the US session of GBP / USD pair on September 5

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

Buyers returned to the market from the level of 1.2781, which I paid attention to in my morning forecast. The next target is the resistance area of 1.2827, the consolidation above which will lead to a return to the area of the high of the day at 1.2867, where fixing profits are recommended. In case of a pound drop in the afternoon, the area of 1.2782 will also all be a good support.

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

Only the formation of a false breakout and a return to the level of 1.2827 in the second half of the day will allow sellers of the British pound to count on the renewal of the support level of 1.2782, where fixing profits are recommended. In case of growth above 1.2827, selling the pair can be considered when it returns immediately to the rebound from 1.2867.

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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