To open long positions on the GBP / USD pair, you need:
There are rumors May was able to make progress in the negotiations on the Brexit with the EU remained rumors. Buyers missed the level of 1.3023 in the morning and now their main task is to return to this range the North American session, which can lead to an upward correction in the middle of the channel at 1.3060 and to update the week highs in the area of 1.3094, where I recommend taking profits. In the case of a further decline in the pound, you can count on support around 1.2984 and 1.2942.
To open short positions on the GBP / USD pair, you need:
As long as trading is below 1.3023, which I paid attention in my morning review, the pressure on the pound will continue. The main goal is testing the support of 1.2984 with an update of the minimum of 1.2942, where I recommend taking profits. In the case of a return to the resistance level of 1.3023, short positions in the second half of the day are best considered after updating the high of 1.3094.
More in the video forecast for February 22
Indicator signals:
Moving averages
Trade remains of 30- and 50-moving averages, which indicates the lateral nature of the market. However, the advantage is on the side of the pound sellers.
Bollinger bands
The upper limit of the Bollinger Bands indicator near 1.3055 may limit the upward potential of the pound.
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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