FX.co ★ Trading plan for the European session March 9 GBP / USD

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

To resume growth, the buyers of the pound need to gain a foothold above the resistance level of 1.3824, which will return to a larger resistance level of 1.3861, where I recommend fixing the profits. If the currency pair GBP / USD declines to the support of 1.3789 in the first half of the day, it is best to consider long positions only after updating to 1.3756 or to rebound from the larger support of 1.3717.

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

The formation of a false breakout at 1.3824 will be the first signal to continue opening short positions in the pound for the purpose of testing and consolidation below the level of 1.3789, which will lead to larger sales of the GBP / USD currency pair in the 1.3756 and 1.3717 support areas, where I recommend fixing the profits. In the case of growth above the level of 1.3824, I recommend to return to short positions in GBP / USD only on a rebound from 1.3861.

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