To open long positions on GBP / USD, you need:
Pound buyers did not fight for the resistance of 1.2668 in the first half of the day and decided to show themselves in the support area of 1.2620, which I paid attention to in my morning review. At the moment, the task is to break through and consolidate above the resistance level of 1.2668, which will lead to a more powerful upward impulse in a pound with a test of the upper limit of the side channel of 1.2714, where I recommend fixing the profits. In the case of a re-decline in the area of 1.2621, the pound may be left without the support of buyers, therefore, in such a scenario, it is best to consider new long positions to rebound from a low of 1.2567.
To open short positions on GBP / USD, you need:
Sellers kept resistance 1.2668, however at the first attempt they could not break below the support of 1.2621. The task for the second half of the day will be a repeated decrease in this range and its breakdown, which will lead to a larger sale to the area of 1.2567, where I recommend fixing the profits. In the case of growth above the resistance of 1.2668 in the afternoon, short positions can be considered to rebound from a high of 1.2714.
Indicator signals:
Moving Averages
Trade is conducted in the area of 30-day and 50-day moving, which more indicates the formation of the lateral nature of the market.
Bollinger bands
Bollinger Bands indicator volatility has decreased, 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
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