To open long positions for GBP / USD, you need:
The buyers have worked out the support level of 1.3485 after the decision of the Bank of England but for a larger upward trend, it is necessary to return to the level of 1.3552, from which we can expect to update the daily highs in the 1.3623 area and exit at 1.3689, where I recommend fixing the profits. In the event of a breakthrough of support at 1.3485, the pound purchases can only be returned after a test of the lows around 1.3429 and 1.3366.
To open short positions for GBP / USD, you need:
While the trade is below the resistance level of 1.3552, there is a possibility of further decline of the pound with a repeat support test of 1.3485, the breakthrough of which will lead to sales already in the region of new monthly lows in the 1.3429 and 1.3366 areas. In the case of a pound in the afternoon, sales can again be sought for a rebound from 1.3623 and 1.3689.
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
The material has been provided by InstaForex Company - www.instaforex.com
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