To open long positions on the GBP / USD pair, you need:
As expected, the buyers failed to maintain the demand for the British pound and keep the morning support level of 1.3064, to which I paid attention. Optimism regarding the Brexit deal is gradually fading away and at the moment it is best to consider long positions after forming a false breakdown around 1.3013 or to rebound from a larger area of 1.2950. However, in order to save the uptrend, it is best to return to the resistance level of 1.3064, above which the highs of 1.3127 and 1.3177 will be available.
To open short positions on the GBP / USD pair, you need:
Bears coped with the morning task of returning to the level of 1.3127, which expectedly led to the sale of the pound and the test of support at 1.3013. In the second half of the day, a breakthrough of this range is also required, which will strengthen the downward impulse and will lead to a minimum of 1.2950 and 1.2894, where I recommend taking profits. In the case of an upward trend in the second half of the day, one can take a closer look at sales at the next unsuccessful consolidation above 1.3064 or at a rebound from the maximum of 1.3127.
More in the video forecast for January 24
Indicator signals:
Moving averages
Trade is conducted in the area of 30- and 50-day moving, which indicates a possible change in the bull trend.
Bollinger bands
In the case of a pound increase, sales can be viewed from the middle line of the Bollinger Bands indicator around 1.3064 or to rebound from the upper border in the area of 1.3100.
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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