To open long positions for GBP/USD, it is required:
While the trade is above 1.4294, we can expect the pound to continue to grow in order to reach a new resistance in the area of 1.4341 and 1.4402, where I recommend locking in profits. In the event of a fall below the level of 1.4294 in the afternoon, it's best to go back to rebounds of 1.4237 to GBP/USD purchases.
To open short positions for GBP/USD, it is required:
Sellers will show up as soon as the trade moves below the level of 1.4294, which will lead to a larger selling to the lower border of the lateral channel of 1.4237, where I recommend locking in profits. In case of pound growth in the second half of the day, you can open short positions after updating 1.4341, or on a rebound from 1.4402.
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
