FX.co ★ Trading plan for the European session on May 15 GBP / USD

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

The reduction and formation of a false breakdown at 1.3541 will be the first signal to buy pound. If there is no demand for 1.3541, you can take a closer look at long positions after the 1.3500 support test with a short stop order below. The main task of buyers will be to go beyond the upper limit of 1.3599, which we could not do yesterday. Only the breakthrough of this area opens a direct road to resistance levels of 1.3648 and 1.3698, where I recommend fixing the profits.

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

Fixing below the middle of the lateral channel of 1.3541 will lead to a new wave of pressure on the British pound, which will allow us to count on updating the support levels of 1.3500 and 1.3461, where I recommend fixing the profit. In the case of GBP / USD growth in the first half of the day, sales can again be returned after a false breakout in the resistance area of 1.3599, or on a rebound from a larger level of 1.3648.

Description of 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