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To open long positions on the GBP / USD pair, you need:
News that British Prime Minister Theresa May postponed the Brexit vote the following year did not hurt much the pound, which regained its position yesterday against the US dollar. To continue the upward trend, buyers need a breakthrough and consolidation above the resistance of 1.2643, which will open a direct road to the area of maximum 1.2686 and 1.2740, where I recommend taking profits. In the case of a decrease in the pound in the first half of the day, long positions can be seen in the area of 1.2566 or a rebound from the low of 1.2527.
To open short positions on the GBP / USD pair, you need:
Sellers need a false breakout in the area of resistance 1.2643, which will be the first signal to short positions in the pound with an exit under the support level of 1.2609. Only a fixation below this range will allow us to count on the resumption of the downward movement in GBP / USD with a rise to yesterday's lows in the area of 1.2566 and updating a larger level of 1.2527, where I recommend taking profits. If the GBP / USD pair continues to grow, it is best to open short positions to rebound from the upper border of the side channel 1.2686.
Indicator signals:
Moving averages
Trade is conducted just above the 30- and 50-day moving average, with a short-term advantage of buyers of the British pound.
Bollinger bands
The downward correction in the pair will be limited to the lower limit of the Bollinger Bands indicator around 1.2601, where a breakthrough of which will lead to a large sale of the pound.
Found in the video review.
Description of indicators
MA (moving average) 50 days - yellow
MA (moving average) 30 days - green
MACD: fast EMA 12, slow EMA 26, SMA 9
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