To open long positions for GBP / USD pair, you need:
The formation of a false breakout at 1.3592 and a return to it in the morning will be a good signal to buy the pound, in anticipation of a breakout and consolidation above the resistance of 1.3646. Good data on the service sector can also help the GBP / USD to choose resistance of 1.3697 and 1.3755, where fixing profits are recommended. In the event of a further drop in the pound, purchases can be sought after upgrading support 1.3498 and 1.3459.
To open short positions for GBP / USD pair, you need:
A return to support level of 1.3592 could lead to a new wave of sales for the GBP / USD pair to the support area of 1.3543, but the pressure on the pound will increase only if weak fundamental data are released. This could lead to the renewal of the levels 1.3498 and 1.3459. In the case of growth above 1.3646 in the morning, short positions in the pound are best sought after testing the level of 1.3697 or on a rebound of 1.3755.
Indicators description
- MA (average sliding) 50 days - yellow
- MA (average sliding) 30 days - green
- MACD: fast EMA 12, slow EMA 26, SMA 9
- Bollinger Bands 20
