To open long positions on GBP / USD you need:
The situation in the pound did not change compared with the morning forecast. The side channel continues to form, and long positions are best viewed under the condition of a false breakdown in the support area of 1.3109-1.3100. Otherwise, you can buy GBP / USD for a rebound from a minimum of 1.3049. The main task of the bulls will be a breakthrough and consolidation above the upper boundary of the side channel in the area of 1.3179, which will lead to a larger upward correction to the maximum of 1.3248, where I recommend fixing the profits.
To open short positions on GBP / USD you need:
Sellers have the opposite task. False breakdown around 1.3180 will be a signal to open short positions, but the main task will be fixing under the lower border of the side channel in the area of 1.3109, which will lead to a larger sale with updating the minimums of 1.3049 and 1.2973, where I recommend fixing the profit. With the growth scenario above the resistance of 1.3179, short positions can be safely opened from the high of 1.3248.
Trade is conducted below the 30-day and 50-medium moving, which keeps the market on the side of sellers.
Bollinger Bands indicator volatility is very low, which does not give signals on market entry.
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