To open long positions on the GBP / USD pair, you need:
Buyers completed the installation for the first half of the day and broke above 1.2620, which led to a new wave of pound growth. At the moment, a breakthrough and consolidation above resistance 1.2667 is needed which will allow us to count on updating the highs around 1.2714 and 1.2752, where I recommend taking profits. In the case of a pair decline in the second half of the day, long positions can again look at the rebound from the support of 1.2618.
To open short positions on the GBP / USD pair, you need:
Sellers managed to form a false breakdown at the resistance level of 1.2675 and as long as the trade is conducted below this range. The pressure on GBP / USD will remain, which may lead to a further decrease in the support area of 1.2618, where I recommend taking profits. In the case of a further larger upward correction and a breakthrough of the resistance of 1.2667, you can take a closer look at short positions at the rebound from the highs of 1.2714 and 1.2752.
Indicator signals:
Moving averages
Trade is conducted over the 30- and 50-day moving averages, which indicates a continuation of the upward correction of the pound.
Bollinger bands
In the case of a decrease in the pound in the afternoon, long positions can be considered immediately to rebound from the lower limit of the Bollinger Bands indicator in the area of 1.2597, which acts as a support.
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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