To open long positions for GBP / USD, you need:
While the trade is above the support level of 1.4291, you can count on maintaining the bull market, which could lead the pound to renew resistance in the region of 1.4341 and 1.4398, where it is recommended to lock in profits. In case of a decline under the area of 1.4291, it's best to buy the GBP / USD on a false breakout from 1.423 or on a rebound from 1.4185.
To open short positions for GBP / USD, you need:
Only a break and a consolidation below the support level of 1.4291 will lead to a break in the upward trend in the pound with the first drop target to 1.4238, where there will be a small profit fixation that could push the pair to rebound upwards. However, a re-test at the level of 1.4238 will lead to a breakthrough of this range, with the main goal of reducing the area to 1.4185. If the pound is above the level of 1.4341 in the first half of the day, it is recommended to return to selling at the level of 1.4398.
Indicator description:
MA (moving average) 50 days - yellow
MA (moving average) 30 days - green
MACD: fast EMA 12, slow EMA 26, SMA
Bollinger Bands 20
