21.02.201916:38 Forex Analysis & Reviews: GBP / USD plan for the American session on February 20. Pound buyers are building a side channel for continued growth

To open long positions on the GBP / USD pair, you need:

As long as trading is above the resistance of 1.3037, the demand for the British pound will continue. However, the bulls need a breakthrough and consolidation above the resistance of 1.3089, which may coincide with a bad report on the American economy, which will lead to a new wave of GBP/USD growth to highs in the 1.3152 and 1.3214 area, where I recommend taking profits. In the case that the pair returns below the support level of 1.3037, it is best to consider new long positions to rebound from a minimum of 1.2984.

To open short positions on the GBP / USD pair, you need:

For the bears to resume the downward correction, a bad news on Brexit or a good report on the state of the American economy is needed. Forming a false breakdown and returning below the resistance level 1.3089 will be the first signal to open short positions in the pound in order to reduce and consolidate below support 1.3037, which will increase the pressure on the pair and lead to a test of the minimum of 1.2984, where I recommend fixing the profit. In the case of a pound rise in the second half of the day above the resistance of 1.3089, it is best to consider new short positions after updating the highs of 1.3152 and 1.3214.

More in the video forecast for February 21

Indicator signals:

Moving averages

Trade remains in the region of 30- and 50-moving averages, which indicates the lateral nature of the market.

Bollinger bands

A break of the upper border of the Bollinger Bands indicator near 1.3090 may lead to a new wave of pound growth.

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