To open long positions on the GBP / USD pair, you need:
Buyers failed to keep the pair above the level of 1.2696, to which I paid attention in my morning forecast that they would maintain a downward impulse. In the afternoon, a return and consolidation above the resistance of 1.2969 are required, which will allow us to count on a quick return to a maximum of 1.2744, where I recommend taking profits. With a further decrease in the pound, you can open long positions today to rebound from a low of 1.2648.
To open short positions on GBP / USD pair, you need:
As long as trading is below the resistance of 1.2696, pressure on the pound will continue. The main task of the bears is to test the support of 1.2648, which may lead to an update of the minimum of 1.2607, where I recommend taking profits. When the growth scenario is above 1.2696 in the second half of the day, you can return to sales of the pound immediately to rebound from a maximum of 1.2744.
Indicator signals:
Moving averages
Trade is conducted in the region of 30 and 50 moving averages, which indicates the lateral nature of the market.
Bollinger bands
In the case of pound growth, the upper limit of the indicator in the area of 1.2750 will act as resistance.
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
