To open long positions on GBP/USD, it is required:
It is better to consider long positions in GBP/USD after consolidating above the resistance range 1.4035, which may lead to an upward correction to the area of 1.4078, where it is recommended fixing the profit. If the pound is lowered to support 1.3994, one can search for new long positions after upgrading the level of 1.3951, or at a rebound of 1.3922.
To open short positions on GBP/USD, it is required:
While the trade is below 1.4084, the pressure on the pound will be maintained. Forming on this range of false breakdown will be an additional signal to sales in order to break support of 1.3994 and exit to 1.3951, where it is recommended fixing profits. In case of growth to the level of 1.4084 in the first half of the day, one can sell the pound on a rebound from 1.4078.
Descriptors:
Descriptors
- MA (moving average) 50 days - yellow
- MA (moving average) 30 days - green
- MACD: fast EMA 12, slow EMA 26, SMA 9
- Bollinger Bands 20
