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To open long positions for GBP / USD, you need:
I have repeatedly noted that in order to maintain the upward trend, the pound needs a return to the level of 1.3025, which we managed to do yesterday. As long as the trade is above this range, the demand will continue, and the formation of a false breakout in this area in the first half of the day will be a good signal to buy GBP / USD for a test and breakout of resistance 1.3077, above which weekly highs in the area of 1.3119 and 1.3165 open, where I recommend fixing the profits. If the Bank of England's statements does not suit investors, purchases in GBP / USD can be sought after the lows are renewed around 1.2981 and 1.2937. The main focus of traders will be on comments related to Brexit.
To open short positions for GBP / USD, you need:
The break and consolidation below the support level of 1.3028 will be a signal to the pound's sales. However, for the upward trend to break, it is necessary to return to the lower border of channel 1.2981, the breakthrough of which will lead to a more powerful sale of GBP / USD with the renewal of lows around 1.2937 and 1.2898, where I recommend fixing the profits. If the comments of the Bank of England will be positive or there will be any information on Brexit, the demand for the pound will increase. In this case, it is best to return to short positions after updating the highs around 1.3119 and 1.3165.
Indicator signals:
The 30-day moving average is on par with the 50-day moving average. This suggests that the trade will be conducted in the side channel
Description of indicators
MA (average sliding) 50 days - yellow
MA (average sliding) 30 days - green
MACD: fast EMA 12, slow EMA 26, SMA 9
Bollinger Bands 20
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