GBP / USD pair: plan for the US session on December 6. Pound traded in a narrow range

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

The situation on the pound has not changed much. On the way, buyers formed a resistance level at 1.2752. Only a breakdown of which will signal a continuation of growth in the area of 1.2798, where I recommend taking profits. In the case of a decrease in the pound on the news on Brexit, support will be the area of 1.2702 and a breakdown can be best considered on new long positions to rebound from a minimum of 1.2657 and 1.2615.

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

Any negative news on Brexit will quickly return pound sellers. Consider short positions at the current time after the formation of a false breakdown in the area of 1.2752 or to rebound from a maximum of 1.2798. The main task of the bears in the afternoon will be a breakthrough and consolidation below support 1.2702, which will lead to a new sale of GBP/USD pair with a breakthrough of the minimum near 1.2657 and exit to 1.2615, where I recommend taking profits.

Indicator signals:

Moving averages

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

Bollinger bands

Bollinger Bands indicator volatility decreased. There are no market entry signals.


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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