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To open long positions for GBP / USD, you need:
Yesterday, the pound was supported by news on Brexit, which reinforced the faith of investors in reaching an early agreement. It is about controlling the goods delivered to Ireland, which can be assigned to the UK. Considering long positions today is best after the formation of a false breakout in the support area of 1.3141 or a rebound from a larger level of 1.3103 and 1.3070. The main objective of the buyers for the first half of the day will be the breakthrough of resistance 1.3175, above which we can wait for the continuation of the upward trend with the update of the maximum in the area of 1.3214 and 1.3263, where I recommend fixing the profit.
To open short positions for GBP / USD, you need:
Sellers will try to form a false break in the first half of the day in the area of the maximum 1.3175, and also gain a foothold below the support of 1.3141, which will lead to the demolition of a number of stop-orders of buyers and downward correction of the pound in the support area 1.3103 and 1.3070, where I recommend fixing profits. Any Brexit news, even in the form of rumors, can lead to a new pound wave above the level of 1.3175. In this case, I recommend returning to short positions after the test of fresh highs in the area of 1.3214 and 1.3263.
Indicator signals:
The 30-day moving average is above the 50-day average and both are sliding up, indicating a continuation of the upward trend for the pound.
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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