To open long positions on GBP / USD you need:
Until the fate of Brexit is determined, volatility will remain rather high. In the evening, there will be another vote on the extension of the exit from the EU. At the moment, you can go back to the breakthrough of resistance 1.3286 to buy pounds with the aim of the test of a maximum of 1.3329 and 1.3375, where I recommend fixing the profits. In the case of a decrease in the pound under the support level of 1.3229, which withstood the sellers' test in the first half of the day, it is best to open long positions to rebound from the low of 1.3155.
To open short positions on GBP / USD you need:
The bears just worked perfectly at the resistance level of 1.3329, to which I paid attention in my morning review. At the current moment, while trade is conducted below the area of 1.3286, the probability of a further decrease in the pound remains rather high. A break of support at 1.3229 will lead to a larger sale of GBP / USD with a 1.3155 low test, where I recommend fixing the profits. In the case of a pound rise in the second half of the day, before the publication of voting results, short positions can be viewed from resistance 1.3329 and 1.3375.
Indicator signals:
Moving Averages
Trade is conducted in the area of 30-day and 50-medium moving, which indicates a high probability of a side channel.
Bollinger bands
A break of the upper border of the Bollinger Bands indicator near 1.3329 will lead to a new wave of pound growth. In the case of a downward correction, the lower limit of the indicator in the 1.32255 area will support the pound, but its breakthrough will lead to a stronger sale.
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
