GBP / USD: plan for the American session on March 5. Pound ignored the good data on the service industry, and this is a bad

To open long positions on GBP / USD you need:

Despite a good report on the service sector, buyers failed to get above the resistance of 1.3195 today. Only a breakthrough and consolidation above this level will be a signal to buy, which will lead GBP / USD to update the highs around 1.3248 and 1.3308, where I recommend fixing the profits. When scenarios further reduce the pound, consider the new long positions best after updating the lows of 1.3093 and 1.3041.

To open short positions on GBP / USD you need:

The bears performed well in the resistance area of 1.3195. As long as trading continues below this range, the pressure on the pair will continue, and a repeated test of support at 1.3144 will lead to a new wave of sales pounds with an update of 1.3093 and 1.3041 lows, where I recommend fixing the profits. With the growth scenario above the 1.3195 area, GBP / USD sales can be expected to rebound from the highs of 1.3248 and 1.3308.

Indicator signals:

Moving Averages

Trade is conducted below the 30-day and 50-medium moving, which keeps the market on the side of sellers.

Bollinger bands

Bollinger Bands indicator volatility is very low, which does not give signals on market entry.

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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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