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To open long positions on GBP/USD you need:
The British pound regained its position after yesterday's decline. The British Parliament voted against the Brexit agreement, which was quite expected and did not lead to significant changes in the market. Purchases of GBP/uSD today can be seen after the formation of a false breakdown in the area of 1.2812 or a rebound from the support of 1.2743. However, the main task remains a breakthrough above the resistance of 1.2883, which will resume the uptrend and will allow to reach the highs of 1.2964 and 1.3016. Much will depend on the data on inflation in the UK, which is expected to be released today in the morning.
To open short positions on GBP/USD you need:
An unsuccessful consolidation above the resistance of 1.2883 will be the first signal to open short positions in the pound, but the main task will be the breakdown and consolidation under the support of 1.2812, which will sharply pull down GBP/USD to the lows in the area of 1.2743 and 1.2672, where I recommend to fix the profit. In case of a further uptrend after the release of good data on inflation in the UK, it is best to consider short positions from the new highs of 1.2964 and 1.3016.
Indicator signals:
Moving averages
Trade is conducted in the area of 30-day and 50-day moving, which indicates the uncertain nature of the market.
Bollinger bands
In case the pound increases, the upward movement may be limited by the upper border of the Bollinger Bands indicator in the area of 1.2935. Purchases of pounds can be viewed after the test of the lower border of the indicator 1.2743.
Description of indicators
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