You are here: Home > articles > Forex > GBP / USD pair: plan for the European session on November 8. The pressure on the pound can return at any time
GBP / USD pair: plan for the European session on November 8. The pressure on the pound can return at any time
November 8, 2018 1:21 pmVideo
Latest News
- Trading Signals for GOLD (XAU/USD) for April 19-22, 2024: sell below $2,395 (+2/8 Murray – overbought) April 19, 2024
- USD/JPY: Simple Trading tips for novice traders on April 19th (US session) April 19, 2024
- GBP/USD: Simple trading tips for novice traders on April 19th (US session) April 19, 2024
- EUR/USD: Simple trading tips for novice traders on April 19th (US session) April 19, 2024
- GBP/USD: trading plan for the US session on April 19th (analysis of morning deals). The pound is trying to regain its advantage April 19, 2024
- EUR/USD: trading plan for the US session on April 19th (analysis of morning deals). The euro compensated for the losses April 19, 2024
- Storm in a teacup: EUR/USD analysis April 19, 2024
- Video market update for April 19, 2024 April 19, 2024
- Eurozone PMIs eyed as euro’s focus turns to rate cuts beyond June – Preview April 19, 2024
- Technical Analysis – NZDUSD falls to fresh 5-month low April 19, 2024
- EUR/USD. April 19th. Bostic, Fed: the rate cut will happen at the end of the year April 19, 2024
- Forecast for GBP/USD pair on April 19, 2024 April 19, 2024
- Weekly Forex Outlook: 14/04/2024 – US GDP and BoJ decision on top of next week’s agenda April 19, 2024
- Market Comment – Safe havens jump as Israel retaliates against Iran April 19, 2024
- Technical Analysis – USDCAD puts rally on hold near 1.3800 caution zone April 19, 2024
- USD/JPY: trading tips for beginners for European session on April 19 April 19, 2024
- GBP/USD: trading tips for beginners for European session on April 19 April 19, 2024
- EUR/USD: trading tips for beginners for European session on April 19 April 19, 2024
- Supercharged US dollar turns to GDP growth data – Preview April 19, 2024
- Technical Analysis – USDCHF remains in bullish structure April 19, 2024
To open long positions on the GBP / USD pair, you need:
The demand for the pound is gradually slowing down, which may lead to a large decline after the Fed’s decision on interest rates today. You can return to purchases when a false breakdown is formed in the support area of 1.3105, where the 50-day moving average runs and the lower limit of the ascending channel is also located. In the case of a breakdown of this level, it is best to open long positions in GBP/USD pair to rebound from a minimum near 1.3031. The main goal of the bulls will be a breakthrough and consolidation above the resistance of 1.3175, which will be extremely difficult to do.
To open short positions on the GBP / USD pair, you need:
Pound sales can be considered for a rebound from the weekly high around 1.3175 or after the breakdown and consolidation below 1.3105 support since the first test of this level, buyers will try to form a false breakdown. With which, this will bring some confusion to the market. The main goal of GBP/USD sellers will be the update of major support around 1.3031, where taking profits are recommended. In the case of growth above 1.3175 in the first half of the day, you can sell a pound to rebound from a high of 1.3233.
Indicator signals:
Moving averages
Trade returned to the same level from the 30-day and 50-day moving average, which indicates a possible change in market sentiment.
Bollinger bands
A break of the lower border of the Bollinger Bands indicator around 1.3105 will be a signal to sell a 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
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: