To open long positions on GBP / USD you need:
In the first half of the day, I paid attention to buying in case of a false breakdown of the level of 1.2970, which led to an increase in the pound and consolidation above the resistance of 1.3026. At the moment, while trading is conducted above this range, the demand for GBP / USD will continue, and the main goal will be to update the maximum of 1.3082, where I recommend fixing the profits. In the case of a downward correction in the second half of the day, long positions can be viewed at the rebound from support 1.3015 - 1.3020.
To open short positions on GBP / USD you need:
Considering the new short positions in the pound is now optimal from the resistance of 1.3082 under the condition that a false breakdown is formed or to rebound from the high of 1.3148. Given that tomorrow there will be another vote in the British Parliament on the Brexit issue, the pressure on the pound may continue. Return under the support of 1.3026 will return new sellers to the market in order to update the area of 1.2970 and enter a new minimum of 1.2909, where I recommend fixing the profits.
Trade is conducted in the area of 30-day and 50-medium moving, which indicates a high probability of a side channel with the advantage of sellers.
In the case of a decrease in the pound in the afternoon, support may be provided by the average Bollinger Bands indicator around 1.2995.
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