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25.03.201915:40 Forex Analysis & Reviews: GBP / USD plan for the American session on March 25. Pound remains in the side channel before an important vote in the British Parliament

Long-term review
This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

To open long positions on the GBP / USD pair, you need:

As long as there are no specifics from Theresa May on the voting, the pound remains in a narrow side channel. You can return to purchases only after fixing above the resistance of 1.3222, which will lead to an upward correction in the area of 1.3266 and 1.3316, where I recommend taking profits. In the case of a re-decline on the news on Brexit, long positions are best to consider on the rebound from the lows of 1.3136 and 1.3083.

To open short positions on the GBP / USD pair, you need:

Bears coped with the task in the first half of the day and did not let the pair to reach above the resistance of 1.3222. As long as trading is conducted below this range, the pressure on the pound will remain, which may lead to a decrease in the support area of 1.3136 and 1.3083, where I recommend taking profits. In the event of a breakthrough of resistance 1.3222 on the positive news on Brexit, short positions in the pound are best to consider at the resistance levels of 1.3266 and 1.3316.

More in the video forecast for March 25

Indicator signals:

Moving averages

Trade is conducted in the area of 30- and 50-medium moving, which indicates the lateral nature of the market.

Bollinger bands

The upward correction for the pound is limited by the upper limit of the Bollinger Bands indicator in the 1.3222 area.

Exchange Rates 25.03.2019 analysis

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

Miroslaw Bawulski
Analytical expert of InstaForex
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