To open long positions on the GBP / USD pair, you need:
News from Theresa May associated with Brexit has failed to support the British pound, which quickly fell today from recent highs. At the moment, you can count on purchases in the region of the middle border of the side channel 1.2659, however, larger buyers will show themselves at the lower border in the area of 1.2611. The main task of the bulls will be the return and consolidation in the second half of the day above the resistance of 1.2715, which will make it possible to speak about the continuation of the upward correction in GBP/USD pair.
To open short positions on the GBP / USD pair, you need:
The bears did an excellent job with the morning task and their next goal would be the breakdown and consolidation below 1.2659 support, which will lead to a further sale to the area of 1.2611 and 1.2567 minima. However, a more optimal scenario for sales today in the second half of the day will be a correction to the area of resistance 1.2715, from where you can open short positions immediately to rebound.
Indicator signals:
Moving averages
Trade is conducted in the area of 30-day and 50-day moving, which more indicates the formation of the lateral nature of the market.
Bollinger bands
In the case of a pound rising in the afternoon, you can open short positions from the middle border of the Bollinger Bands indicator around 1.2725.
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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