To open long positions for GBP/USD, it is required:
It would be best to consider new purchases of the pound after the return and a consolidation above the middle of the lateral channel at 1.4055, from where the upward trend may lead to an update of 1.4094 and a breakthrough in the area of 1.4139, where I recommend locking in profits. If the pound is down in the second half of the day, the support will be in the area of 1.4010, or you can buy immediately for a rebound from 1.3971.
To open short positions for GBP/USD, it is required:
While the trade is below 1.4055, we can expect a further decline in the GBP/USD pair with the expectation of updating the lower border of the channel in the region of 1.4010. To secure under this range will lead to a larger selling of the pound with a minimum yield of 1.3971 and 1.3922, where I recommend locking in profits. In case of growth above 1.4050 in the afternoon, sales can be returned with the test at 1.4094.
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
