GBP / USD plan for the US session on March 29. The pound partially recovered after the update of major support level at 1.3000

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

The buyers coped with the task for the first half of the day and managed to work out the divergence from the support level of 1.3000, to which I paid attention. At the moment, the goal is to break through and consolidate above the resistance of 1.3099, which will lead to a new wave of growth in the pound and update highs around 1.3162 and 1.3212, where I recommend taking profits. In the case of a downward correction in the second half of the day, it is best to return to long positions on testing the support at 1.3051 or to rebound from a minimum of 1.3000.

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

The bears also coped with the morning task and managed once again to test at least at the level of 1.3000. A further downward movement will depend on the results of voting in the UK Parliament, which will be held tonight. In the case of growth above the level of 1.3099, you can consider short positions on the rebound from the maximum of 1.3162 and 1.3212. The main goal of the bears is to return to the support of 1.3051, which will lead to a new sale of GBP/USD pair already with a breakdown of 1.3000 and a test of new lows of 1.2909 and 1.2855.

More in the video forecast for March 29

Indicator signals:

Moving averages

Trade is conducted below the 30- and 50-medium moving, which indicates the bearish nature of the market.

Bollinger bands

A break of the middle border of the Bollinger Bands indicator near 1.3051 may lead to a new sale of the pound.


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 -