Source: Forex Analysis
To open long positions for GBP / USD, you need:
Buyers of the pound need to return to the resistance level of 1.3343. Only after this, it will be possible to count on a new wave of GBP / USD growth with an exit to new highs of the day in the area of large resistance level of 1.3387, where I recommend fixing the profit. In the event of a further decline in the pound, you can return to purchases on a false breakout from 1.3303 or on a rebound from 1.3255.
To open short positions for GBP / USD, you need:
As long as the trade is below the level of 1.3343, the pressure on the pound will remain, which may lead to a repeat test and break of the morning support around 1.3303 and a larger downward wave of GBP / USD to the area of 1.3255, where I recommend fixing the profits. In the case of growth above the level of 1.3343 in the afternoon, selling of GBP / USD can be rebounded from 1.3387.
Description of indicators
MA (average sliding) 50 days – yellow
MA (average sliding) 30 days – green
MACD: fast EMA 12, slow EMA 26, SMA
Bollinger Bands 20
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