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To open long positions on GBPUSD, you need:
Not surprisingly, buyers of the British pound lost interest in it amid the lack of positive fundamental statistics and news on Brexit. Only US inflation data, which is expected in the second half of the day, will rock the market. At the moment, the task of the bulls is to break through the same resistance of 1.2380, which limits the upward potential this week. Only this will allow you to resume the bullish market, which will target the highs of 1.2427 and 1.2460, where I recommend fixing the profits. It is best to open long positions from the level of 1.2310 only in the scenario of a false breakdown against the background of a weak US inflation report. I recommend buying GBP/USD immediately for a rebound only in the area of a minimum of 1.2238, which is the lower boundary of the side channel.
To open short positions on GBPUSD, you need:
Sellers did not let GBP/USD close to the resistance of 1.2380 today, which led to the formation of a downward correction. However, the main target of the bears for the second half of the day will be the support test of 1.2310, the breakdown of which can increase the pressure on the pound, which will lead to a decrease in the area of the minimum of 1.2238, where I recommend taking the profit. If the bullish momentum in the North American session leads to a breakdown of the resistance at 1.2380, it is best to consider new short positions after updating the local highs around 1.2427 and 1.2460. However, without news on Brexit, and preferably positive, it will be very problematic to count on a larger increase in GBP/USD.
Signals of indicators:
Moving Averages
Trading around 30 and 50 moving averages, indicating the sideways nature of the market.
Bollinger Bands
Volatility is very low, which does not give signals to enter the market.
Description of indicators
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