FX.co ★ Trading plan for the European session on May 22 for the GBP/USD

To open long positions on GBP/USD it is required:

The formation of a false breakout at 1.3405 will be the first signal to open long positions in the British pound, and in the event of a breakdown of this range, buying consideration is best only on a rebound from support 1.3366. A breakout and consolidation above 1.3444 would also be a good signal for an increase in long positions in the expectation of renewal of resistance 1.3480.

To open short positions on GBP/USD it is required:

The main task of the pound's sellers will be to keep it below the range of 1.3444, where the formation of a false breakout will be a good signal to open short positions, as well as a break and consolidation below 1.3405, which will lead to new monthly lows in the 1.3366 area. In the case of growth above the resistance of 1.3444, selling GBP/USD can be on the rebound from 1.3480.

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