To open long positions for GBP / USD, you need:
According to the morning plan, buyers worked well on the support 1.4159 and returned to the resistance level 1.4215. As long as the trade is above this range, the demand for the pound will continue until the renewal of the 1.4273 area, where it is recommended fixing profits. In case of a decline below the 1.4215 level, new purchases may consider a rebound from 1.4159.To open short positions for GBP / USD, you need:
It is best to have a rebound in considering new sales of the pound, after the update of resistance in the area of 1.4273. If trading in the afternoon bounced back to the level of 1.4215, the pressure on GBP / USD will rise which may lead again to a decrease in the support area of 1.4159, where it is recommended fixing profits.
Indicators description
- MA (average sliding) 50 days - yellow
- MA (average sliding) 30 days - green
- MACD: fast EMA 12, slow EMA 26, SMA
- Bollinger Bands 20
* The presented market analysis is informative and does not constitute a guide to the transaction.
