15.01.201915:24 Forex Analysis & Reviews: GBP / USD: plan for the American session on January 15. Pound lowers before the key vote on Brexit

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

Pound buyers failed to break above yesterday's highs, which led to the expected downward correction. At the moment, a return and consolidation above the resistance of 1.2868 is required, which may return new buyers to the market, however, most likely, the demand before the Brexit vote is unlikely to be serious. When scenarios further movement of the pound down, you can see the purchase from the level of 1.2792 or rebound from 1.2712. All forecasts are valid only until the publication of the Brexit solution.

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

An unsuccessful consolidation above the resistance level of 1.2868 will be the first signal for opening short positions in a pound, but the main task will be the breakdown and consolidation under the support of 1.2792, which will collapse GBP / USD to the minimum near 1.2712 and 1.2658, where I recommend fixing the profits. In the case of a pound rising above 1.2868, before the publication of the Brexit vote results, short positions can be opened to rebound from resistance 1.2929.

Volatility and movement on the pound can be very strong and do not forget about the gaps that can be formed, so it's not a fact that your stop orders that you will place will be executed at the prices you need.

Indicator signals:

Moving Averages

Trade returned to the area of 30-day and 50-day moving, which indicates a possible change in the upward trend to the downward one.

Bollinger bands

Volatility remains low, which does not give signals to enter the market.

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