To open long positions for GBP/USD, it is required:
Buyers completed the task in the first half of the day and managed to gain a foothold above the resistance of 1.4057, which maintains the upside potential in the pair for the purpose of growth to a larger resistance of 1.4114, where I recommend locking in profits. If the pound drops below the support level of 1.4057 in the afternoon, you can count on purchases to rebound from 1.4014 and 1.3971.
To open short positions for GBP/USD, it is required:
A return to the level of 1.4057 could lead to another wave of selling in the GBP/USD pair, which will be aimed at updating the support at 1.4014, a breakthrough and consolidation below which will then derail the pound to new weekly lows of 1.3971 and 1.3922.
Indicator description
- Moving Average (average sliding) 50 days - yellow
- Moving Average (average sliding) 30 days - green
- MACD: fast EMA 12, slow EMA 26, SMA
- Bollinger Bands 20
