06.12.201909:27 Forex Analysis & Reviews: GBP/USD: plan for the European session on December 6. The pound will be satisfied with any data on the state of the American economy

To open long positions on GBPUSD, you need:

The growth of the pound continues and we can talk about new purchases after a breakthrough and consolidation above the upper border of the side channel of 1.3167, which will immediately provide growth in the area of new highs of 1.3227 and 1.3265, where I recommend taking the profits. However, downward correction of the pound after the release of the US report is not excluded, so the formation of a false breakout at the level of 1.3125 will be the first signal to buy, but it is best to open long positions for a rebound from the minimum of 1.3084.

To open short positions on GBPUSD, you need:

Sellers are still hoping for a strong report on the growth of employment in the non-agricultural sector of the United States, as only it will provide active purchases of the dollar and lead to a downward correction in the area of lows of 1.3125 and 1.3084, where I recommend fixing the profits. If the bullish trend continues, and the bears fail to achieve a false breakout in the resistance area of 1.3167, it will be possible to count on sales only after the highs of 1.3227 and 1.3265 are updated.

Indicator signals:

Moving Averages

Trading is conducted above 30 and 50 moving averages, which keeps the probability of growth of the pound.

Bollinger Bands

Breaking the upper limit of the indicator at 1.3167 will lead to a more powerful bullish impulse.

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.