To open long positions on GBP / USD, you need:
News that several members of the Conservative Party of Great Britain changed their mind yesterday and decided to support the Brexit agreement, which led to an increase in the pound, the upward potential of which is still limited by voting in parliament and its results. At the moment, buyers need to hold above the support level of 1.2868, and the formation of a false breakdown there will be a signal to open long positions in order to update the resistance at 1.2929. Breakthrough of this range will open a direct road to the maximum area of 1.2990 and 1.3064, where I recommend fixing the profits. In the case of a decrease in the pound under the support level of 1.2868, consider long positions best on a rebound between 1.2813 and 1.2758.
To open short positions on GBP / USD, you need:
An unsuccessful consolidation above the resistance level of 1.2929 will be the first signal for opening short positions in a pound, but the main task will be the breakdown and consolidation under the support level of 1.2868, which will collapse GBP / USD to the minimum area of 1.2813 and 1.2758, where I recommend fixing the profit. However, the situation may unfold regardless of technical analysis due to any Brexit scenario that is being discussed today in the UK Parliament. In the case of a further uptrend and a break of the high of 1.2929, it is best to consider short positions from the levels of 1.2990 and 1.3064.
Indicator signals:
Moving Averages
Trading takes place above the 30-day and 50-day moving, indicating the bullish nature of the market.
Bollinger bands
Volatility is very low, which does not give signals for entering the market.
Description of indicators
MA (moving average) 50 days - yellow
MA (moving average) 30 days - green
MACD: fast EMA 12, slow EMA 26, SMA 9
Bollinger Bands 20
