FX.co ★ Trading plan for the European session of GBP / USD pair on May 29

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

You can buy the pound only if it breaks and consolidates above 1.3335, which will lead to the main target in the area of resistance at 1.3374 and 1.3412, where fixing profits are recommended. In case of the pound drops in the morning, purchases can be sought only after a false breakdown at the level of 1.3294 or a rebound from 1.3262.

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

Unsuccessful fastening above 1.3335 will be the first signal to GBP / USD sales in order to reduce and break support of 1.3294, below of which the pair can quickly collapse to the low of 1.3262 and 1.3224, where fixing profits are recommended. In the case of growth above 1.3335 in the morning, selling the pound can be on the rebound from 1.3374.

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