24.01.201909:10 Forex Analysis & Reviews: GBP/USD: plan for the European session on January 24. The pound is increasing against the background of optimism associated with Brexit

To open long positions on GBP/USD you need:

Yesterday's Brexit news from the Minister of Commerce of Great Britain and the head of the IMF led to the strengthening of the British pound and the breakdown of several important resistance levels, but the further upward trend is very vague. Only the formation of a false breakdown at the support level of 1.3064 will be the first signal to buy the pound in order to update the new highs around 1.3127 and 1.3177, where I recommend taking profits.In case the GBP/USD declines in the first half of the day, long positions can be seen at a rebound from the support of 1.3013 and 1.2950.

To open short positions on GBP/USD you need:

Updating yesterday's highs did not lead to the formation of a divergence on the MACD indicator. Today, the main task of sellers of the pound will be to return to the support level of 1.3064 with a test area of 1.3013, where I recommend taking profits. In the event of a continuation in the pair's upward movement, you can look at short positions from a high of 1.3127, and you can also sell for a rebound in the area of large resistance 1.3177.

Indicator signals:

Moving averages

Trading takes place above the 30-day and 50-day moving, which indicates the bullish nature of the market.

Bollinger bands

In the case of a decrease in the pound in the first half of the day, the intermediate support will be the lower limit of the Bollinger Bands indicator around 1.3035.

Description of indicators

• MA (moving average) 50 days - yellow
• MA (moving average) 30 days - green
• MACD: fast EMA 12, slow EMA 26, SMA 9
• Bollinger Bands 20