Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader


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Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

Blog Post

GBP / USD pair: plan for the American session on October 9. Sellers are trying to return to the market

October 10, 2018 Analytics


To open long positions on GBP / USD pair, you need:

The formation of the lower boundary of the rising channel yesterday doesn’t allow the growth of the British pound to continue today. Support was provided only in the area of 1.3032, which I paid attention to in my morning forecast. The main task of buyers for the second half of the day will be a breakthrough and consolidation above the resistance of 1.3085, from where the upward correction will continue to the area of resistance 1.3131, where taking profits are recommended. In the event of another decline in GBP / USD pair to the support level of 1.3032, it is best to consider long positions on a rebound from a new low of 1.2982.

To open short positions on the GBP / USD pair, you need:

Sellers return to the market after an unsuccessful fixing above the resistance of 1.3085 or on the repeated test of morning support at 1.3032. A breakthrough of which will lead to an instant sale of the pound to the area of minimum 1.2982, where taking profits are recommended. If the growth scenario is above resistance of 1.3085, it is suggested to return to rebound from the level of 1.3131.

Indicator signals:

Moving averages

The price again moved below 50 average, and the 30-day moving average broke through the 50-day from top to bottom, which indicates a short-term trend change in the direction of sales.

Bollinger bands

As long as trading continues below the Bollinger Bands midline, the pressure on the pound will continue.


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

The material has been provided by InstaForex Company – www.instaforex.com


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