GBP / USD: plan for the American session on December 5. The pound ignores the bad data on the service industry and shows

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

Just terrible data on the services sector in the UK were ignored by traders. This again shows that all attention is focused on Brexit and the decision of the parliament. It is best to consider long positions on the pound after updating the support of 1.2737 with the formation of a false breakdown there, or again to rebound from the low of 1.2674. In the scenario of a strong fall of the pound, you can immediately buy to rebound from the support of 1.2625 and 1.2569. The main goal of the bulls today will be a breakthrough of the level of 1.2812, above which resistance of 1.2868 is seen, where I recommend fixing the profits.

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

Any negative news on Brexit will quickly return pound sellers. Consider short positions at the current moment can be from the resistance level of 1.2812 or immediately to rebound from a new high of 1.2868. The main task of the bears in the afternoon will be a breakthrough and consolidation below the support level of 1.2737, which will lead to a new sale of GBP / USD with a breakthrough of the daily minimum around 1.2674 and exit to 1.2625, where I recommend fixing the profits.

Indicator signals:

Moving Averages

Trade has moved above the 30-day and 50-day moving averages, but this does not mean the formation of a new upward wave.

Bollinger bands

In the case of a decrease in the pound, long positions can be returned immediately to the rebound from the lower border of the Bollinger Bands indicator, which is located in the area of 1.2674.


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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