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GBP / USD: plan for the European session on September 24. British Prime Minister Theresa May crashed the British pound

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

The British pound collapsed on Friday after British Prime Minister Theresa May stated that the government had come to a standstill in the negotiations on Brexit. At the moment, consider the long positions in the pound best after dropping to a large level of support 1.3027 or immediately to a rebound from 1.2981. The main task of buyers for the first half of the day will be growth and consolidation above the resistance of 1.3092, which will allow to count on a test of the maximum of 1.3149, where I recommend fixing the profits.

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

While the trade is below 1.3092, the pressure on the pound will be maintained, and the formation of a false breakdown and the failure to secure this range in the first half of the day will signal the opening of new short positions to the pound in order to reduce support to 1.3027 and 1.2981, where I recommend fixing the profits. In the case of growth above 1.3092, you can sell the pound immediately to a rebound from the high of 1.3149.

Indicator signals:

Moving Averages

The 30-day moving average broke down the 50-day average, and the price returned under MA, indicating a downward trend in the pound.

Bollinger Bands

Consider buying pound is best after upgrading the lower boundary of Bollinger Bands around 1.3030.

analytics5ba8799944231.png

Description of indicators

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