empty
 
 
13.08.2018 09:13 AM
Trading plan for the European session on August 13 GBP/USD

To open long positions for GBP/USD, it is required:

A false breakout and a return to 1.2739 will be the first signal to buy the pound in order to restore to the resistance area of 1.2789 and update the high in the area of 1.2847, where I recommend profit taking. If the pound drops below the support area of 1.2739, it is best to count on long positions after updating a large level of 1.2677.

To open short positions for GBP/USD, it is required:

The downward trend is maintained. The formation of a false breakout at the resistance of 1.2789 will be another signal for selling. The main task for the first half of the day will be to consolidate below the support of 1.2739, which will lead to another major wave of sales in the GBP/USD pair in the expectation of updating the area of 1.2677 and 1.2594, where I recommend to lock in the profit. In the event of a growth in the pound above 1.2789, it is best to consider short positions after hitting resistance at 1.2847 and 1.2893.

This image is no longer relevant

Indicator description

  • Moving Average (average sliding) 50 days - yellow
  • Moving Average (average sliding) 30 days - green
  • MACD: fast EMA 12, slow EMA 26, SMA 9
  • Bollinger Bands 20
Miroslaw Bawulski,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback