To open long positions on GBP/USD you need:
It is best to return to buying the pound with a correction from larger support levels around 1.2984 and 1.2916. However, in the first half of the day you can also count on the formation of a false breakdown in the area of 1.3023. Only in this case would we be able to expect a re-wave of growth in the GBP/USD with a consolidation above the resistance of 1.3058, which will strengthen the upward impulse and return the pair to the highs of 1.3094 and 1.3152, where I recommend taking profits.
To open short positions on GBP/USD you need:
Sellers need to consolidate below the support level of 1.3023 or form a false breakdown in the area of resistance at 1.3058, which will raise the pressure on the pair and lead to a larger wave of selling, with a low of 1.2984 and 1.2942, where I recommend to take profits. However, the main task of sellers at the end of the week will be to update support at 1.2903. In the event of further growth in the trend, you can open short positions from a high of 1.3094 or to a rebound from 1.3152.
Indicator signals:
Moving averages
Trade is conducted in the area of 30-day and 50-day moving, which indicates the lateral nature of the market.
Bollinger bands
Today, the pound's growth may limit the upper limit of the Bollinger Bands indicator around 1.3075. A break of the lower border of the indicator around 1.3012 will lead to the pound's sharper decline.
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
