GBP / USD plan for the American session on May 28. Traders do not know what to do next with the pound

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

The technical picture has not changed. The British pound is on the verge of another major fall, but buyers still have a chance to continue the upward correction. In the second half of the day, buyers of the pound still need all of the same return and consolidation above the resistance of 1.2969. This will make it possible to count on a rapid growth to the maximum of 1.2744 and an update of the resistance of 1.2800, where I recommend taking profits. With a further decrease in the pound, you can open long positions on a false breakdown from the low of 1.2648 or on the rebound from the support of 1.2607.

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

As long as trading will be below the resistance of 1.2696, pressure on the pound will continue. In support of this, a false breakdown was formed in the first half of the day at the level of 1.2696. However, the main task of the bears is the support of 1.2648 and a breakthrough of which can lead to an update of the minimum of 1.2607 and 1.2564, where I recommend taking profits. When the growth scenario is above 1.2696 in the second half of the day, you can return to sales of the pound immediately to rebound from a maximum of 1.2744.

Indicator signals:

Moving averages

Trade is conducted in the region of 30 and 50 moving averages, which indicates the lateral nature of the market.

Bollinger bands

Volatility has decreased, which does not give signals for entering the market.

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Description of indicators

MA (moving average) 50 days - yellow

MA (moving average) 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