GBP / USD: plan for the European session on November 26. The declaration is signed, now it is up to the Parliament of Great

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

The pound didn't change much after the news that a political declaration on Brexit was signed by all EU members over the weekend. Breakthrough and consolidation above the resistance level of 1.2835 will be a signal to buy GBP / USD, but a more visible option for opening long positions is around 1.2785-1.2780. The main task at the beginning of this week remains a breakthrough and consolidation above 1.2881, which will lead to the formation of an uptrend. In the case of a decline below the support level of 1.2785, it is best to return to long positions in GBP / USD to rebound from a low of 1.2723.

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

Bears need to stay below 1.2835, and the formation of a false breakout there will be a signal to sell GBP / USD, which will lead to a further decline with the release to the lower border of the side channel 1.2787. A breakthrough of this range will collapse the pound to the lows of 1.2723 and 1.2663, where I recommend taking profits. In case of a rise above resistance 1.2835 in the second half of the day, it is best to open short positions to rebound from a new high of 1.2881.

Indicator signals:

Moving Averages

Trade is conducted below the 30- and 50-day moving averages, which indicates a likely continued decline in the pound.

Bollinger bands

The volatility of the Bollinger Bands indicator is low, which does not give signals to enter the market.

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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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