To open long positions for GBP / USD pair, you need:
Strengthening the US dollar against the background of good fundamental statistics led to a decline in the GBP / USD pair. The unresolved issue of Brexit also repels new buyers. To the long positions in the pound today, it is best to return on a false breakout from the support level of 1.3054 or to rebound from the new weekly lows around 1.2999. The main task of the buyers will be a breakdown and consolidation at the level of 1.3100, which will limit the downward potential and align the picture in favor of buyers, which will lead to the renewal of the high of 1.3158, where fixing profits are recommended.
To open short positions for GBP / USD pair, you need:
An unsuccessful fastening above the resistance level of 1.3100 with a return to it and a rebound from the 30-day moving average will be a direct signal for the opening of short positions in the pound, and the main target will be the area of 1.3054. A consolidation below it will lead to a larger sellout of GBP / USD with a yield to the lows in the area of 1.2999, where fixing profits are recommended. If the pound is higher than the 1.3100 resistance in the first half of the day, you can immediately return to sales at a rebound from the high of 1.3158.
Indicator signals:
Moving Averages
Trading moved under the moving average, which is directed down, indicating a continuation of the downward trend.
Bollinger Bands
In case of further reduction, the support of the pound may be provided by the lower limit of the Bollinger Bands indicator, which is located in the area of 1.3052.
Description of indicators
- MA (average sliding) 50 days - yellow
- MA (average sliding) 30 days - green
- MACD: fast EMA 12, slow EMA 26, SMA 9
- Bollinger Bands 20
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