To open long positions on GBP / USD, you need:
The pound buyers made an attempt to reverse the downward correction in the first half of the day from the level of 1.3152, which I paid attention to in my morning review, but I did not manage to get above the daily highs, which increases the chance for the pound to continue to decline. In the current situation, it is best to look at the long positions for a rebound from the support of 1.3084 and 1.3013. The main task for the second half of the day will be a breakthrough and consolidation above 1.3213, which will open for GBP / USD new highs near 1.3291 and 1.3348.
To open short positions on GBP / USD, you need:
The bears coped with the morning task of returning to the level of 1.3152, but it did not work out below this range. In the afternoon, a breakthrough in this area of support is required, which will strengthen the downward impulse and will lead to a minimum of 1.3084 and 1.3013, where I recommend fixing the profits. In the case of an uptrend in the second half of the day, you can take a closer look at sales at the next unsuccessful consolidation above the resistance of 1.3213 or rebound from a maximum of 1.3291.
More in the video forecast for January 28
Indicator signals:
Moving Averages
Trade has moved to the area of 30-day and 50-day moving, which indicates the possible formation of a downward corrective trend.
Bollinger bands
In the case of a pound growth, the upper limit of the Bollinger Bands indicator in the area of 1.3215 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 20
