To open long positions on GBP / USD, you need:
The British pound remained bargained in the side channel in the first half of the day, with the prospect of further growth after the British Prime Minister Theresa May managed to keep her post after another vote because of a vote of no confidence. Purchases of GBP / USD today can be seen after the formation of a false breakdown in the area of 1.2812 or a rebound from the support of 1.2743. However, the main task remains a breakthrough above the resistance of 1.2880-90, which will resume the uptrend and will reach the highs of 1.2964 and 1.3016.
To open short positions on GBP / USD, you need:
An unsuccessful consolidation above the resistance of 1.28800-90 will be the first signal for opening short positions in the pound, but the main task will be the breakdown and consolidation under the support of 1.2812, which will collapse GBP / USD to minima in the area of 1.2743 and 1.2672, where I recommend to fix the profit. In the case of a further uptrend, it is best to consider short positions from the new highs of 1.2964 and 1.3016.
Indicator signals:
Moving Averages
Trade returned to the area of 30-day and 50-day moving, which indicates the lateral nature of the market.
Bollinger bands
Volatility remains low, which does not give signals to enter the market.
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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