FX.co ★ Trading plan for the European session on June 4 GBP / USD

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

The break and consolidation above the level of 1.3379 will be a good signal for the opening of long positions in the pound, in the expectation of a further upward trend towards the highs of 1.3418 and 1.3476, where I recommend fixing the profit. In the case of a pound drop in the morning, the formation of a false breakout at the level of 1.3343 with the update of the 30-day moving average will also serve as an excuse for opening long positions.

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

The failure to fix and return to the resistance level of 1.3379 will be the first signal to the likely downward movement in the pound, with a return and consolidation below the support level at 1.3343, where the bears will quickly push the pair into the area of 1.3308. In the case of growth above the level of 1.3379, you can sell a pound on a rebound from 1.3418.

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