To open long positions on GBP / USD you need:
Pound buyers could not build a new wave of growth in the first half of the day, but the probability of continuing upward correction remains quite high. The formation of a false breakdown at 1.2915, to which bears are now very close, will be a signal to open long positions based on a breakout and consolidation above resistance 1.2960, which will open a direct path to the highs of 1.2990 and 1.3017, where I recommend taking profits. Under the scenario of reducing the pound below the level of 1.2915, long positions can be returned to the rebound from the support of 1.2870.
To open short positions on GBP / USD you need:
The bears did not wait for a false breakdown in the area of resistance 1.2960, to which I paid attention in my morning forecast. Now the main task is to consolidate below the range of 1.2915, which is the middle of the side channel, which will lead to the formation of pressure on GBP / USD and reduce the pair to the area of minimum 1.2874, where I recommend taking profits. In the case of growth above 1.2960, GBP / USD can be sold to rebound from a maximum of 1.2990.
More in the video forecast for April 29
Indicator signals:
Moving averages
Trade is conducted in the region of 30 and 50 moving averages, which indicates the likely completion of a downward trend.
Bollinger bands
Volatility is low, which does not give signals to enter 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
