20.11.201815:23 Forex Analysis & Reviews: GBP / USD pair: plan for the American session on November 20. The pound remains in the side channel

To open long positions on GBP / USD you need:

The bears did not allow the pound buyers to break through the resistance level of 1.2877, which I talked about in more detail in my morning review. At the moment, the challenge is still the breakthrough of 1.2877, which will open a direct road to the area of maximum 1.2962, where I recommend taking profits. In the case of a decrease in the pound in the second half of the day, support is expected at the level of 1.2799. However, it is best to open long positions immediately on the rebound from the low of 1.2725.

To open short positions on GBP / USD you need:

Failure to consolidate above the resistance of 1.2877 led to the sale of the British pound, which I spoke about in my morning forecast. A decline and breakdown of support at 1.2799, where the GBP/USD pair is currently aiming, will lead to a larger sale of testing 1.2725 and 1.2662 minimum, where I recommend taking profits. In the case of positive news on Brexit, a break of 1.2877 will lead to an increase in pounds. In such a scenario, it is best to open short positions to rebound from the highs of 1.2962 and 1.3039.

Indicator signals:

Moving averages

Trade is conducted in the 30- and 50-day average, which indicates the lateral nature of the market.

Bollinger bands

The Bollinger Bands indicator indicates a decrease in volatility and does not give signals on market entry.

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