FX.co ★ Trading plan for the European session on April 16 GBP / USD

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

Only the formation of a false breakdown at the support level 1.4229 will indicate the presence of pound buyers in the market. If rapid growth from this range does not occur in the first half of the day, then it is recommended to return to long positions only on a rebound from 1.4185 and 1.4147. With a breakout and consolidation situation above the level of 1.4266, we can expect a renewal of last Friday's highs in the resistance area of 1.4300.

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

The formation of a false breakout at the level of 1.4266 and a return to it in the morning will be a good signal for the opening of short positions in the GBP / USD. The main goal is to return to the level of 1.4229. Fixing below this range can lead to a stronger sellout with the update of the support level in the areas of 1.4185 and 1.4147.

Indicator description

MA (moving average) 50 days - yellow

MA (moving average) 30 days - green

MACD: fast EMA 12, slow EMA 26, SMA 9

Bollinger Bands 20