To open long positions on the GBP / USD pair, you need:
The bears did not allow the pound buyers to break through the resistance level of 1.2816, which I talked about in more detail in my morning review. At the moment, the challenge is still breaking through 1.2816, which will open a direct road to the area of maximum 1.2876, where I recommend taking profits. In the case of a decrease in the pound in the second half of the day, support can only be expected when a false breakdown is formed from the level of 1.2770 since its breakthrough will lead to a very strong drop in the pound. In this scenario, you can open long positions to rebound from 1.2694.
To open short positions on the GBP / USD pair, you need:
The bears managed to keep the pair below the resistance level of 1.2816 and form a false test, which I paid attention to it in the morning forecast . As long as trade is conducted under this range, the pressure on the pound will remain and the repeated test on the current target of support at 1.2770 will lead to a larger sale with access to the lows of 1.2694 and 1.2662, where I recommend taking profits. In the case of positive news on Brexit, a break of 1.2816 will lead to an increase in pounds. In this scenario, it is best to open short positions to rebound from a maximum of 1.2876.
Indicator signals:
Moving averages
Trade is conducted in the 30- and 50-day average, which indicates the lateral nature of the market.
Bollinger bands
The Bollinger Bands indicator indicates a decrease in volatility and does not give signals on market entry.
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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