GBP / USD: plan for the European session on November 28. Traders are less likely to believe in the conclusion of the transaction
November 28, 2018 8:23 am
To open long positions on GBP / USD, you need:
The buyers failed to keep the pound at important levels, which led to a decrease in the minimum area of this month. Only the formation of a false breakdown in the range support of 1.2727 will be a signal to buy pounds, which can lead to the resistance area of 1.2773, wherein the morning, I recommend fixing the profits. The main task is to return to this area, with an update of the maximum around 1.2816. In the case of a further decline of the pound under the support level of 1.2727, consider long positions are best for a rebound from 1.2663 and 1.2625.
To open short positions on GBP / USD, you need:
The bears need to break below the low of this month in the area of 1.2727, which will lead to the further sale of the pound with access to a minimum of 1.2663 and 1.2625, where I recommend fixing the profits. In the case of GBP / USD growth in the first half of the day, short positions can be considered after the test of resistance 1.2773, provided that there is a false breakdown or rebound from a maximum of 1.2816. The Bank of England report on stress tests and financial stability can support the pound in the morning.
Indicator signals:
Moving Averages
Trade is conducted below the 30 and 50-day moving averages, which indicates a likely continued decline in the pound.
Bollinger bands
A break of the lower border of the Bollinger Bands indicator around 1.2725 will lead to the fall of the British 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
To open long positions on GBP / USD, you need:
The buyers failed to keep the pound at important levels, which led to a decrease in the minimum area of this month. Only the formation of a false breakdown in the range support of 1.2727 will be a signal to buy pounds, which can lead to the resistance area of 1.2773, wherein the morning, I recommend fixing the profits. The main task is to return to this area, with an update of the maximum around 1.2816. In the case of a further decline of the pound under the support level of 1.2727, consider long positions are best for a rebound from 1.2663 and 1.2625.
To open short positions on GBP / USD, you need:
The bears need to break below the low of this month in the area of 1.2727, which will lead to the further sale of the pound with access to a minimum of 1.2663 and 1.2625, where I recommend fixing the profits. In the case of GBP / USD growth in the first half of the day, short positions can be considered after the test of resistance 1.2773, provided that there is a false breakdown or rebound from a maximum of 1.2816. The Bank of England report on stress tests and financial stability can support the pound in the morning.
Indicator signals:
Moving Averages
Trade is conducted below the 30 and 50-day moving averages, which indicates a likely continued decline in the pound.
Bollinger bands
A break of the lower border of the Bollinger Bands indicator around 1.2725 will lead to the fall of the British 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
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