Trading plan for the European session on June 8 GBP / USD

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

Buyers need to break through and consolidate above the intermediate resistance level of 1.3430 to maintain the upward trend, but the main goal will be to go beyond the high of yesterday at 1.3468, which will open new areas of resistance 1.3523 and 1.3563, where it is recommended to lock in profits. If the pound drops below the support level of 1.3404, long positions can be opened to rebound from 1.3374 and 1.3336.

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

An unsuccessful break above the level of 1.3430 with a return to it will be the first signal for the bears that will try to return the pair today under the support level of 1.3404, which will lead to the formation of a larger downward trend with the renewal of the area 1.3374 and 1.3336. In case of a breakout and growth above the level of 1.3430 in the morning, opening short positions against the trend is best on the return near the level of 1.3468 and a rebound from 1.3523.

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