To open long positions on GBP / USD you need:
Buyers have missed the morning support level of 1.3265 and are now trying to return to it, which will be the first buy signal for re-growth and the update of large resistance 1.3325, where I recommend fixing the profits. In the case of further downward correction, as in the morning forecast, the area of 1.3213 and 1.3177 will be a convenient level for buying a pound.
To open short positions on GBP / USD you need:
Bears coped with the task set for the first half of the day and returned to support level of 1.3265. In the afternoon, GBP / USD will need to be kept below this range, and the formation of a false breakout there will be a signal to open short positions, which will lead to a sale to the area of 1.3213 and 1.3177 lows, where I recommend fixing the profits. In the event of a re-return of the pound to daily highs, it is best to sell again on a rebound from the large resistance of 1.3325.
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
Pound growth may be limited by the upper limit of the Bollinger Bands indicator in the 1.3315 area.
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
