10.12.201815:12 Forex Analysis & Reviews: GBP / USD pair: plan for the American session on December 10. Brexit is likely to fail

Long-term review

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

The pound fell and failed to get out above the resistance of 1.2751. News that British Prime Minister Theresa May may withdraw a vote on the Brexit agreement, scheduled for Tuesday, has led to a quick sale. At the moment, it is best to count on long positions after updating the lows around 1.2615 and 1.2569. The main task for the second half of the day will be the return and consolidation above the resistance of 1.2702, which will stop the current downward trend.

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

The morning sell signal, to which I paid attention in my review, worked itself out and the downward trend continued. At the moment, a breakthrough and consolidation below the support of 1.2657 will lead to a further sale of GBP / USD with a minimum at 1.2615 and 1.2569, where I recommend taking profits. In the case of an upward correction in the area of resistance 1.2702, you can watch short positions on that level immediately on the rebound of the pound.

Indicator signals:

Moving averages

Trade is conducted under the 30- and 50-day moving averages, which indicates a continued decline in the pound.

Bollinger bands

Bollinger Bands indicator volatility decreased. There are no market entry signals.

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

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