To open long positions on the GBP / USD pair, you need:
Buyers coped with the task set in the first half of the day and entrenched above 1.2888. However, data on the labor market has not yet allowed a large uptrend to form as they turned out to be worse than economists' forecasts. While the trade is conducted above 1.2888, the demand for the pound will be maintained. This will update the upper limit of the side channel located in the 1.2945-50 area, where I recommend taking profits. In case of a decrease in the pound in the second half of the day to the support area of 1.2888, it is best to look closely at long positions from the lower border of the channel 1.2830.
To open short positions on the GBP / USD pair, you need:
If I'm not interested, I'm going to make it clear that I'm going to make it. If you can, then you can sell the pound immediately to rebound. It is also a limit to the downward channel (on the green graph).
Indicator signals:
Moving averages
Trade has moved one level from the 30-day and 50-day moving average, which indicates the formation of an upward correction for the pound.
Bollinger bands
A break of the upper border of the Bollinger Bands indicator located at 1.2912 may lead to the formation of a larger upward correction for the pound.
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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