To open long positions on the GBP / USD pair, you need:
The pound fell and failed to get out above the resistance of 1.2751. News that British Prime Minister Theresa May may withdraw a vote on the Brexit agreement, scheduled for Tuesday, has led to a quick sale. At the moment, it is best to count on long positions after updating the lows around 1.2615 and 1.2569. The main task for the second half of the day will be the return and consolidation above the resistance of 1.2702, which will stop the current downward trend.
To open short positions on the GBP / USD pair, you need:
The morning sell signal, to which I paid attention in my review, worked itself out and the downward trend continued. At the moment, a breakthrough and consolidation below the support of 1.2657 will lead to a further sale of GBP / USD with a minimum at 1.2615 and 1.2569, where I recommend taking profits. In the case of an upward correction in the area of resistance 1.2702, you can watch short positions on that level immediately on the rebound of the pound.
Indicator signals:
Moving averages
Trade is conducted under the 30- and 50-day moving averages, which indicates a continued decline in the pound.
Bollinger bands
Bollinger Bands indicator volatility decreased. There are no market entry signals.
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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