GBP / USD: plan for the European session on September 12. Brexit talks help the pound move up

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

Bulls missed the market, and for the resumption of the upward movement, a return and consolidation above the resistance level of 1.3020, so desperately defended by the sellers, is required. Only after that it will be possible to count on a repeated wave of growth with the update of the weekly maximum near 1.3077 and the outflow to the area of 1.3119, where I recommend fixing the profit. In the event of a further decline in the pound in the morning, support may be in the area of 1.2977, but in my opinion, consider larger purchases of GBP / USD best for a rebound from the low of 1.2937 and 1.2898.

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

Today, important fundamental statistics are not expected to be released, so the market may remain on the side of the bears. Failure to secure and return to the resistance level of 1.3020 will be a good signal for increasing short positions in the pound, and a repeat support test of 1.2977 may lead to a larger downward wave with weekly lows updated around 1.2937 and 1.2898, where I recommend fixing the profits. In the case of growth above 1.3020 in the morning, selling GBP / USD is best for a rebound from the weekly high of 1.3077.

Indicator signals:

An important signal for bears. The test support of 1.2977 may lead to the intersection of a 30-day moving average from top to bottom 50-day, which will be a clear signal to replace the short-term trend in the direction of sales.


Description of indicators

MA (average sliding) 50 days - yellow

MA (average sliding) 30 days - green

MACD: fast EMA 12, slow EMA 26, SMA 9

Bollinger Bands 20

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