28.02.202014:04 Forex Analysis & Reviews: GBP/USD: plan for the US session on February 28. Buyers of the pound made an unsuccessful attempt to return the resistance of 1.2895

To open long positions on GBPUSD, you need:

In the morning forecast, I paid attention to the formation of a false breakdown in the support area of 1.2862 and purchases from this level, as well as the need to break through the resistance of 1.2895, which the bulls tried to arrange. However, it was not possible to stay above this range and the trade returned to the side channel. The goals and objectives of buyers are the same. The first is to hold the level of 1.2862. Only poor data on income and spending by Americans will lead to another false breakdown in this range, which will be a signal to buy the pound. The second no less important goal is to consolidate above the resistance of 1.2895, which will open a direct road to the highs of 1.2930 and 1.2970, where I recommend fixing the profits. In the scenario of GBP/USD falling below the level of 1.2862, the pound will resume falling. The nearest levels for the scenario of long positions will be the lows of 1.2830 and 1.2799.

To open short positions on GBPUSD, you need:

Sellers achieved their goal and returned the pound to the level of 1.2895, which discouraged buyers from trying to turn the market around. As long as trading is below this range, the pressure on GBP/USD will remain. Now the focus is reduced to the support of 1.2862, the breakdown of which will lead to the continuation of the downward trend in the area of the lows of 1.2830 and 1.2799, where I recommend fixing the profits. If there are no active sales in the second half of the day in the area of 1.2862, then it is best to postpone short positions until the highs of 1.2930 and 1.2970 are updated.

Signals of indicators:

Moving averages

Trading is conducted below the 30 and 50 daily averages, which indicates a slight advantage on the part of sellers of the pound.

Bollinger Bands

A break in either side of the indicator's borders will determine the pair's further short-term direction.

Description of indicators

• Moving average (moving average determines the current trend by smoothing out volatility and noise). Period 50. The graph is marked in yellow.
• Moving average (moving average determines the current trend by smoothing out volatility and noise). Period 30. The graph is marked in green.
• MACD indicator (Moving Average Convergence / Divergence - moving average convergence / divergence) Fast EMA period 12. Slow EMA period 26. SMA period 9
• Bollinger Bands (Bollinger Bands). Period 20