empty
 
 
15.04.2019 02:36 PM
GBP/USD: plan for the American session on April 15. The pound remains in the wide side channel

To open long positions on GBP/USD you need:

Buyers of the pound managed to form a false breakout from the support level of 1.3085, which I paid attention to in my morning review. Now their task is to break and consolidate above the upper limit of the side channel 1.3130, which will allow to resume the uptrend and update new highs in the area of 1.3160 and 1.3195, where I recommend fixing the profit. In the scenario of a repeated decline of the pound in the afternoon, long positions are best to return to the rebound from the lower border of the channel in the area of 1.3052.

To open short positions on GBP/USD you need:

We see that the average border of the wide side channel, which I paid attention to in my morning review, is quite blurred, so it is best to open short positions on the pound after the test of the upper limit of 1.3130 or a rebound from the new weekly maximum in the area of 1.3160. The main goal of the sellers will be to reduce to the lower border of the channel to the area of 1.3052 and update the minimum in the area of 1.3021, where I recommend fixing the profit.

Indicator signals:

Moving Averages

Trading is conducted in the area of 30 and 50 moving averages, which indicates the lateral nature of the market.

Bollinger bands

In the scenario of the pound decline, the lower border of the Bollinger Bands indicator in the area of 1.3065 will act as support. The break of the upper border at 1.3115 may strengthen the demand for GBP/USD.

This image is no longer relevant

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
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 $8000 more!
    In March we raffle $8000 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