GBP / USD: plan for the American session on March 12. Brexit panic scenario affects the market

To open long positions on GBP / USD you need:

Now, it is difficult to predict something in one direction or another, as much will depend on the Brexit vote. Good data on GDP does not help the buyers. Currently, long positions are best viewed with a decline and support test at 1.3077 and 1.3018.

To open short positions on GBP / USD you need:

Selling a pound is best from the large resistance of 1.3195 and 1.3262, where speculative buyers will take profits. A better scenario for sales is the failure of the Brexit agreement without renewing the UK exit agreement.

Indicator signals:

Moving Averages

Trade is conducted in the area of 30-day and 50-medium moving, which indicates a high probability of a side channel with the advantage of sellers.

Bollinger bands

High volatility does not give signals to enter the market based on the indicator.

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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
The material has been provided by InstaForex Company - www.instaforex.com