To open long positions for GBP / USD, you need:
While the trade is above the support level of 1.4334, one can count on maintaining the bull market which could lead the pound to renew in resistance in the areas of 1.4402 and 1.4448, where it is recommended to lock in profits. In case of a decline under the area of 1.4334, it's best to buy the GBP / USD pair on a false breakout from 1.4292 and better on a rebound from 1.4238.
To open short positions for GBP / USD, you need:
The formation of a false breakout at 1.4402 and a return to it in the morning will be a good signal to open short positions in the GBP / USD with a goal of reducing to the support level of 1.4334. In case of growth above the 1.4402 range, you can sell the pound immediately on a rebound from 1.4448. Fixing below an important support level of 1.4334 will lead to a larger sellout in the area of 1.4292 and 1.4238.
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
