FX.co ★ Trading plan for the US session on June 5 for the GBP/USD

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

Buyers made it to the morning resistance at 1.3390 and managed to form support in the area of 1.3348. As long as the trade is above this level, demand for the pound will continue, and a repeat test of 1.3387 will lead to new local highs in the area of 1.3436 and 1.3476, where it is recommended recording profits.

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

Only a return to support level 1.3348 on its repeated test will lead to the formation of a larger downward trend in the pound, with the main target of updating the daily lows around 1.3302, where it is recommended recording profits. With growth above 1.3387, selling the GBP/USD pair is best on a rebound from 1.3436.

Description of indicators

• MA (moving average) 50 days - yellow
• MA (moving average) 30 days - green
• MACD: fast EMA 12, slow EMA 26, SMA
• Bollinger Bands 20