To open long positions for GBP / USD, you need:
To continue the growth, buyers of the pound need to gain a foothold above the resistance of 1.3903, which will bring new players to the market and will count on a renewal of the level of 1.3937, as well as a further yield to the monthly maximum near 1.3969, where it is recommended to lock in profits. If the GBP / USD falls below the support level of 1.3871, consider opening long positions only on a rebound from 1.3817.
To open short positions for GBP / USD, you need:
The formation of a false breakout at the level of 1.3903 or a break and consolidation below the support level of 1.3871 may lead to a correctional sale of the British pound with the main purpose of updating to the level of 1.3817, where it is recommended to lock in profits. In case of growth above the level 1.3903, it is recommend to return to short positions in the GBP / USD only after a false breakdown at 1.3937 or a rebound from 1.4004.
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
