You are here: Home > articles > Forex > GBP / USD pair: plan for the US session on November 16. The demand for the pound remains minimal due to the risk of failure
GBP / USD pair: plan for the US session on November 16. The demand for the pound remains minimal due to the risk of failure
November 16, 2018 2:21 pmVideo
Latest News
- Trading Signals for EUR/USD for May 3-5, 2024: sell below 1.0803 (overbought – 5/8 Murray) May 3, 2024
- Trading Signals for GOLD for May 3-5, 2024: sell below $2,320 or below $2,300 (21 SMA – 200 EMA) May 3, 2024
- Technical Analysis – GBPUSD advances above descending trendline May 3, 2024
- USD experiences day X May 3, 2024
- Bitcoin licks wounds as Fed comes on the rescue – Crypto News May 3, 2024
- GBP/USD: trading plan for the US session on May 3rd (analysis of morning deals). The pound is preparing to get out of the May 3, 2024
- EUR and GBP may drop May 3, 2024
- EUR/USD: trading plan for the US session on May 3rd (analysis of morning deals). US data will be the key moment of the week May 3, 2024
- USD/JPY: Simple trading tips for novice traders for May 3rd (US session) May 3, 2024
- GBP/USD: Simple trading tips for novice traders for May 3rd (US session) May 3, 2024
- Video market update for May 03, 2024 May 3, 2024
- EUR/USD: Simple trading tips for novice traders on May 3rd (US session) May 3, 2024
- Could the BoE adopt a more dovish stance on Thursday? – Preview May 3, 2024
- EUR/USD. May 3rd. Bulls don’t give up without a fight May 3, 2024
- GBP/USD. May 3rd. Bears are counting on a strong US labor market May 3, 2024
- Market Comment – Stocks enjoy Fed-induced bounce as dollar slips ahead of NFP May 3, 2024
- Weekly Forex Outlook: 03/05/2024 – BoE and RBA decisions headline a calm week May 3, 2024
- Week Ahead – BoE and RBA decisions headline a calm week May 3, 2024
- USD/JPY: trading tips for beginners for European session on May 3 May 3, 2024
- GBP/USD: trading tips for beginners for European session on May 3 May 3, 2024
To open long positions on the GBP / USD pair, you need:
The situation has not changed compared with the morning forecast. The upside potential of the pound is still limited by the resistance of 1.2831, hence, it is best to open long positions after breaking through and fixing on this range in order to update the highs of 1.2890 and 1.2960, where I recommend taking profits. In case of a decline, support will be provided by the intermediate area of 1.2761, however, I recommend to open long positions immediately to rebound after testing the minimum of 1.2703 and 1.2663.
To open short positions on the GBP / USD pair, you need:
An unsuccessful fixation above resistance of 1.2831 signals to open short positions in order to reduce to the area of first support at 1.2761, the breakdown of which will lead to a larger sale of GBP / USD pair with a test of 1.2703 and 1.2663 minimum, where I recommend to fix profits. In the case of positive news on Brexit, a break of 1.2831 will lead to an increase in the pound. In this scenario, it is best to open short positions to rebound from a maximum of 1.2891 and 1.2962.
Indicator signals:
Moving averages
Trading takes place in the 30-day moving average, which limits the upside potential of the pound. With a 50-day average test, you can sell a pound immediately to rebound.
Bollinger bands
In case the pressure on the GBP / USD pair returns, the downward movement for today may be limited by the lower limit of the Bollinger Bands indicator around 1.2740.
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: