Trading plan for the US session on August 22 GBP/USD
To open long positions for GBP/USD, it is required:
Buyers have worked out the morning signal to buy the pound, and now their main goal is to update the weekly high around 1.2943, where I recommend to lock in the profit. In the event of a decline in the GBP/USD pair in the second half of the day, you can return to buying only on the rebound from the support of 1.2845 and 1.2814.
To open short positions for GBP/USD, it is required:
It is best to consider short positions in the pound after the resistance update in the area of 1.2943 or after the return and consolidation under a large support level of 1.2875, which could not be done in the morning. A breakthrough of 1.2875 will lead to the formation of more serious pressure on the GBP/USD pair with a return to 1.2845, where I recommend to lock in the profit. However, the main goal of sellers will be a low of 1.2814.
- Moving Average (average sliding) 50 days – yellow
- Moving Average (average sliding) 30 days – green
- MACD: fast EMA 12, slow EMA 26, SMA
- Bollinger Bands 20