To open long positions on GBP/USD you need:
The bulls formed another leap of the British pound after the breakthrough of a large resistance of 1.3009. Today, all attention will be paid to the level of 1.3125, at which divergence can be formed on the MACD indicator, which is limited by the upward potential. Therefore, you need to carefully buy 1.3125 for a breakout. In the absence of active growth of GBP/USD after updating yesterday's high, it is best to abandon long positions in the pair and wait for a downward correction to the support area of 1.3085. However, I recommend buying from this level only on a false breakout. Larger players will enter the market only after updating lows of 1.3048 and 1.3009.
To open short positions on GBP/USD you need:
Sellers are clearly not in a hurry to return to the market, and only the formation of a false breakout in the resistance area of 1.3125, with confirmation of divergence on the MACD indicator, will be the first signal to adjust the pound in the support area of 1.3085, where I recommend profit taking, A more important task for the bears will be to consolidate below this range, which will lead to a downward impulse to the area of a low of 1.3048. If the bulls cope with the level of 1.3125 in the morning, and the growth of GBP/USD continues along the trend, it is best to postpone sales until the highs are updated in the areas of 1.3167 and 1.3227.
Signals of indicators:
Moving averages
Trade is conducted above 30 and 50 moving averages, which saves the probability of a pound growth in the short term.
Bollinger bands
Growth may be limited by the upper level of the indicator at 1.3135. In case the pair falls, support will be provided by the lower boundary at 1.3048.
Description of indicators
- Moving average (moving average determines the current trend by smoothing out volatility and noise). Period 50. The graph is marked in yellow.
- Moving average (moving average determines the current trend by smoothing out volatility and noise). Period 30. The graph is marked in green.
- MACD indicator (Moving Average Convergence / Divergence - moving average convergence / divergence) Fast EMA period 12. Slow EMA period 26. SMA period 9
- Bollinger Bands (Bollinger Bands). Period 20
