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: plan for the US session on September 18. Pound buyers are waiting for new messages on Brexit

September 20, 2018 Analytics

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

To return the bullish momentum to the market, buyers of the pound need to break through the resistance level of 1.3141, which will lead to the formation of an upward wave and the renewal of the high of 1.3175, to which the bulls did not last in the morning. Only above this range can we expect an increase in demand for the pound with a test of levels of 1.3214 and 1.3263, where I recommend fixing the profits. In the case of a pound drop in the afternoon, you can return to purchases on a false breakout from 1.3103 or on a rebound from 1.3070.

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

While the trade is below resistance 1.3141, the pressure on the pound will be maintained, and the formation of a false breakout at this level in the afternoon will be a good signal to increase short positions in the downgrade to support area 1.3103 and 1.3070, where I recommend fixing the profits. In the case of a pound rising above 1.3141, short positions can be returned after a maximum of 1.3175 has been updated, or a rebound from the 1.3214 area.

Indicator signals:

The 30-day moving average is above the 50-day average and both are sliding up, indicating a continuation of the upward trend for the pound.

analytics5ba0e7383e9b1.png

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

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

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