FX.co ★ Trading plan for the US session on May 31 GBP / USD

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

You can buy the pound only if you break and consolidate above the level of 1.3343, which will form a new upward wave with the resistance level of 1.3379, where I recommend fixing the profits. In the case of a pound drop in the afternoon, purchases will be relevant for a false breakout in the support area of 1.3295 or a rebound from 1.3247.

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

The sellers managed to return to the morning resistance level of 1.3340, and now their main goal is to update the support level of 1.3295. A recurring return to this level could lead to a new wave of GBP / USD falling already with reaching the lows around 1.3247, where I recommend fixing the profits. In the case of growth above the level of 1.3343, you can sell the pound for a rebound from 1.3379.

Description of indicators

MA (average sliding) 50 days - yellow

MA (average sliding) 30 days - green

MACD: fast EMA 12, slow EMA 26, SMA

Bollinger Bands 20