GBP / USD pair: plan for the US session on November 23. The pound will be waiting for signing of declaration this weekend.

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

Pound buyers failed to continue yesterday's upward trend, having not consolidated above 1.12880 in the first half of the day, which led to a decrease in the pound. Only the formation of a false breakout in the support area of 1.2835 will be a signal to buy GBP/USD pair but a more visible option for opening long positions is in the area of 1.2785-1.2780. The task remains to be a breakthrough and consolidation above 1.2880, which will lead to the formation of an uptrend. Given the fact that the weekend is expected to sign the declaration proposed yesterday by Donald Tusk, it is unlikely the big players will try to change the situation before the market closes before the weekend.

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

The bears have rested now at 1.2835, and its breakdown will lead to a further decline in GBP/USD pair with access to the lower border of the side channel 1.2787, where I recommend taking profits. In case of growth above resistance 1.2880 in the second half of the day, it is best to open short positions to rebound from a new high of 1.2962.

Indicator signals:

Moving averages

Trade is conducted in the area of 30- and 50-day moving averages, which indicates the lateral nature of the market.

The Bollinger Bands

The Bollinger Bands indicator indicates a decrease in volatility and does not give signals on market entry.


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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