GBP / USD pair: plan for the US session on December 7. 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. The formation of a false breakdown in the area of 1.2752 led to a return in demand for the pound. However, the main task is to break through and fix above 1.2798 resistance, which will lead to an update of the larger 1.2833 border, where I recommend taking profits. The entire focus will be on data on the US labor market, as well as news on Brexit from the UK Parliament, which may appear at any time. In the case of a decline below the level of 1.2752, it is best to return to long positions to rebound from a minimum of 1.2702.

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

To open short positions requires the formation of a false breakdown in the area of resistance 1.2798 or return and consolidation below the support level of 1.2752. A good report on the US labor market will help the bears to derail the British pound to the lower border of the side channel 1.2702, where I recommend taking profits. In the case of a pair above the resistance level of 1.2798 in the second half of the day, the pound can be sold for a rebound from the maximum of 1.2833 and 1.2868, where the number of sellers is more concentrated.

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.

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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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