To open long positions on the GBP / USD pair, you need:
Just yesterday it became known that the situation with Brexit became even more complicated after the failed vote in the British Parliament for various scenarios on Brexit. Buyers have missed several levels of support and the entire emphasis on long positions is currently shifted to the lows of 1.3083 and 1.3045, from where you can buy a pound when a false breakdown forms. The main task of the bulls in the afternoon will be the return of GBP/USD pair to the intermediate resistance of 1.3122, which will lead to an upward correction in the region of the maximum of 1.3162.
To open short positions on the GBP / USD pair, you need:
Bears are actively selling the pound and while the trade moves below the resistance of 1.3122, we can expect a renewal of the minimum in the area of 1.3083 and 1.3045, where I recommend fixing the profit. In clarifying the situation for Brexit, the demand for the pound may return, which will lead to an increase in the pair above the resistance of 1.3122. In such a scenario, it is best to open short positions after testing the maximum of 1.3162 or for a rebound from a larger resistance at 1.3212.
More in the video forecast for March 28
Trade is conducted below the 30- and 50-medium moving, which indicates the bearish tone of the market.
In the case of an upward correction, the average border of the Bollinger Bands indicator in the area of 1.3170 will act as resistance.
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 20The material has been provided by InstaForex Company - www.instaforex.com