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To open long positions on GBP/USD, you need:
The pound collapsed after the Prime Minister announced a possible suspension of the UK Parliament, which is a kind of response to yesterday's meeting of the opposition in an attempt to prevent uncontrolled Brexit. Buyers managed to keep the pair only in the support area of 1.2158, which I paid attention to in my morning review. The current challenge is maintaining trade above the support of 1.2195 that will lead to the growth of the pound to the area of the resistance of 1.2243, where I recommend taking the profit. If the situation in the pair only worsens with the opening of the North American session, you can return to long positions on a false breakdown near the low of 1.2158 or a rebound from the support of 1.2123.
To open short positions on GBP/USD, you need:
Bears will try to return the pair to the level of 1.2195 in the second half of the day, which will again lead to active sales of the pound and update the support of 1.2158. However, the main goal of sellers is to reach a new low in the area of 1.2123, where I recommend fixing the profits. Much will depend on whether Boris Johnson succeeds in getting Parliament suspended, which will largely hit the British pound and return the market to a bearish location. If the pound grows in the second half of the day, short positions can be returned to the rebound from the resistance of 1.2243.
Signals of indicators:
Moving Averages
Trading is below 30 and 50 moving averages, indicating a return to the seller's market.
Bollinger Bands
If the pound grows, the average limit of the indicator in the area of 1.2250 will act as a resistance, from which you can open short positions immediately on the rebound.
Description of indicators
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