To open long positions on GBP/USD it is required:
As long as the trade is above support at 1.3445, demand for the pound will continue, and the repeated test of morning resistance 1.3480 will lead to a new wave of growth with an exit already at the highs in the 1.3523 area, where it is recommended fixing profits. In the case of a decline under the area of 1.3445 in the afternoon, it is better to return on a rebound from 1.3414.
To open short positions on GBP/USD it is required:
Sellers worked out resistance 1.3480 and reached support 1.3445. However, the key challenge for today will be a return to the support level of 1.3445, which will keep the downside potential in the pair. In the case of a second wave of pound growth in the afternoon, it is recommended to return to selling the pound only on a rebound from 1.3523.
Description of indicators
- MA (moving average) 50 days - yellow
- MA (moving average) 30 days - green
- MACD: fast EMA 12, slow EMA 26, SMA
- Bollinger Bands 20
