To open long positions on GBP / USD, you need:
Pound buyers failed to cope with the resistance of 1.2884, to which I paid attention in my morning review and on which the further upward correction in the pair fully depends. The support of 1.2833 showed itself perfectly. At the moment, only a breakdown with consolidation above the resistance of 1.2884 will open up the prospect of further GBP / USD recovery with a test of highs around 1.2932 and 1.2992, where I recommend fixing the profits. In the case of a decline and breakdown of support at 1.2833, it is best to return to long positions to rebound from the lows of 1.2782 and 1.2728.
To open short positions on GBP / USD, you need:
Speech by the Governor of the Bank of England Mark Carney could put pressure on the pound. The bears have already worked out the morning sell signal in the resistance area of 1.2884, and the repeated support test of 1.2833 will lead to a new, larger sale of the pound to the lows of 1.2782 and 1.2728, where I recommend fixing the profits. In the case of a pair rising above the resistance of 1.2884 in the second half of the day, it is best to open short positions to rebound from a high of 1.2932.
Indicator signals:
Moving Averages
Trade is conducted below the 30-day and 50-day moving, which indicates the formation of a downward trend.
Bollinger bands
The volatility of the Bollinger Bands indicator is very low, but a breakthrough of the upper border around 1.2885 will lead to a larger increase in the pound.
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
