FX.co ★ Trading plan for the European session on June 1 for the GBP/USD

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

Counting on buying the pound is best when forming a false breakout at 1.3244, or on a rebound from the lows of the month in the area of 1.3202. The main goal of the buyers will be a return and consolidation above the middle of the channel 1.3291, which opens a direct road to the weekly highs in the area of 1.3343 and 1.3379, where it is recommended to record profits.

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

In the morning, sellers will try not to allow the return to resistance level 1.3291, and the formation of a false breakout on it will be an additional signal to sell, counting on the break and consolidation below 1.3244, which opens the way to weekly lows in the 1.3202 area, where it is recommended recording profits. In the case of growth above 1.3291, one can sell the pound on a rebound from 1.3343.

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