GBP / USD
To open long positions on GBP / USD, you need:
While the trade is above the level of 1.3776, we can expect the demand for the pound to remain in order to update the larger weekly resistance around the level of 1.3831, where it is recommended to lock in profits. In case of a decline at the level of 1.3776, opening long positions can be done after the formation of a false breakdown at 1.3746 or on a rebound from 1.3715.
To open short positions on GBP / USD, you need:
It is best to consider opening short positions in the GBP / USD pair after the resistance update in the area of 1.3831. In case of return to the support level of 1.3776, the pressure on the pound may increase, which will lead to the test at the level of 1.3746 and, quite possibly, to the decrease in the weekly low 1.3715 area, where it is recommended to lock in profits.
Indicator description
MA (moving average) 50 days - yellow
MA (moving average) 30 days - green
MACD: fast EMA 12, slow EMA 26, SMA 9
Bollinger Bands 20
