To open long positions on GBP / USD, you need:
At the weekend, the EU and the UK again failed to reach an agreement on Brexit due to problems with the border of Ireland. In the current situation, it is best to return to pound purchases when a false breakdown is formed at the support level of 1.3103 or to open long positions already on a rebound from a new local minimum near 1.3047. The main task will be to return to the resistance level of 1.3141 and fixing on it, which will lead to a larger increase in GBP / USD in the area of 1.3172, where I recommend fixing the profits.
To open short positions on GBP / USD, you need:
Sellers will return to the market on a repeated test of support 1.3103, which will lead to its breakdown and a larger sale of the pound to the area of 1.3047 and 1.2982 lows, where I recommend fixing the profits. In the case of GBP / USD growth in the first half of the day to close the Asian gap, short positions can be viewed after an unsuccessful fixing above the resistance of 1.3141 or a rebound from the maximum of 1.3172.
Indicator signals:
Moving Averages
The trade has moved below 30- and 50-medium, which indicates a bear market. In the case of an upward correction of the sale, you can see after the 30-day average test.
Bollinger bands
The pound today can be supported by the lower limit of the Bollinger Bands indicator near 1.3072, while the middle line in the resistance area of 1.3141 will act as a deterrent for the upward correction.
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
