Trading plan for the US session on July 23 GBP / USD
To open long positions for GBP / USD, you need:
In the first half of the day, buyers were unable to get above 1.3147 and made a false breakdown. In the US session, the main task is again the breakdown and consolidation above resistance 1.3147, which will return demand for the British pound and lead to a test of a new high near 1.3203, where I recommend fixing profits. In the case of the next decline in the pound, it is best to return to long positions at a rebound of 1.3076.
To open short positions for GBP / USD, you need:
The formation of a false breakdown, which I paid attention to in the morning review, led to the first wave of the pound’s decline. In the case of another failed fixing above 1.3147 and in the afternoon, you can also count on short positions, the main purpose of which will be the update of support 1.3076. In case of growth above 1.3147, you can sell the pound for a rebound from 1.3203.
Description of indicators
MA (average sliding) 50 days – yellow
MA (average sliding) 30 days – green
MACD: fast EMA 12, slow EMA 26, SMA
Bollinger Bands 20