To open long positions for GBP/USD, you need:
Buyers are required to form a false breakout at 1.3082, which will bring new players to the market and lead an upward trend towards the yesterday's resistance level of 1.3147, where it is recommended to fix profits. If the pound drops below the support level of 1.3082 in the first half of the day, it is best to return to long positions only for a rebound from 1.3010.
To open short positions for GBP/USD, you need:
The break and consolidation below 1.3082 support will be a good signal for GBP/USD to sell, with an the expectation of renewing fresh lows in the 1.3045 and 1.3010 levels, where it is recommended to fix profit. This morning, the pound is recommended to sell only a rebound from the resistance range of 1.3146-56.
Indicators Description:
MA (average sliding) 50 days - yellow
MA (average sliding) 30 days - green
MACD: fast EMA 12, slow EMA 26, SMA 9
Bollinger Bands 20
* The presented market analysis is informative and does not constitute a guide to the transaction.
The material has been provided by InstaForex Company - www.instaforex.com