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To open long positions for GBP / USD, you need:
Half a week, pound buyers tried to return to the market, but it seems that the pressure on the pound returns. It is best to consider long positions after consolidating above the resistance level of 1.3144, which will lead to a larger growth in the area of 1.3181, and a breakthrough and this resistance will allow to expect highs in the area of 1.3227 and 1.3269, where I recommend fixing the profits. In the event of a further decline in GBP / USD, support will be in the area of 1.3094, but it is best to buy immediately for a rebound from the new weekly low around 1.3036.
To open short positions for GBP / USD, you need:
A break below the level of 1.3144 is a signal to sell the pound, and while the trade will be conducted under this range, you can expect a further decline in GBP / USD with the renewal of lows around 1.3094 and 1.3036, where I recommend fixing the profits. In the case of growth above 1.3144 in the afternoon, a good level for sales will be the area of 1.3181. In another scenario, I recommend short positions in GBP / USD only to rebound from the high of 1.3227.
Indicator signals:
Moving Averages
Trade has moved under the moving average, and the breakout of the 30-day average of the 50-day average will confirm the trend change to the downward trend.
Bollinger Bands
Despite the pound's decline, there is no surge in volatility in Bollinger Bands, which could lead to a return to the pound buyers market, provided that it is anchored above the channel's midline, which is located at 1.3168.
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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