GBP/USD: plan for the European session on January 22. May announced a number of changes to the Brexit agreement, which supported
January 22, 2019 8:25 am
To open long positions on GBP/USD you need:
As it became known yesterday, British Prime Minister Theresa May is preparing a series of changes to the Brexit agreement related to the Irish border, which maintains the demand for the British pound. Currently, bulls require a quick return and consolidation above the resistance of 1.2895, which will lead to a larger upward trend in the area of a high of 1.2944 and 1.3006, where I recommend to fix profits. In case the pound declines in the first half of the day, it is best to look at long positions on a false breakdown around 1.2833 or on a rebound from the low of 1.2752.
To open short positions on GBP/USD you need:
Failing to fix above the resistance at 1.2895 will be the first signal to open short positions in the pound, but the main task will be a breakthrough of the support level of 1.2833, which was not possible yesterday. Only after the breakdown of this range will the downtrend resume, which will lead the GBP/USD to the lows of 1.2752 and 1.2679, where I recommend taking profits. In case of an uptrend on the news on Brexit, it is best to consider short positions from the highs around 1.2944 and 1.3006.
Indicator signals:
Moving averages
Trade is conducted in the area of 30-day and 50-day moving, which indicates market uncertainty.
Bollinger bands
The volatility of the Bollinger Bands indicator is low, which does not give signals to enter the market.
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:
As it became known yesterday, British Prime Minister Theresa May is preparing a series of changes to the Brexit agreement related to the Irish border, which maintains the demand for the British pound. Currently, bulls require a quick return and consolidation above the resistance of 1.2895, which will lead to a larger upward trend in the area of a high of 1.2944 and 1.3006, where I recommend to fix profits. In case the pound declines in the first half of the day, it is best to look at long positions on a false breakdown around 1.2833 or on a rebound from the low of 1.2752.
To open short positions on GBP/USD you need:
Failing to fix above the resistance at 1.2895 will be the first signal to open short positions in the pound, but the main task will be a breakthrough of the support level of 1.2833, which was not possible yesterday. Only after the breakdown of this range will the downtrend resume, which will lead the GBP/USD to the lows of 1.2752 and 1.2679, where I recommend taking profits. In case of an uptrend on the news on Brexit, it is best to consider short positions from the highs around 1.2944 and 1.3006.
Indicator signals:
Moving averages
Trade is conducted in the area of 30-day and 50-day moving, which indicates market uncertainty.
Bollinger bands
The volatility of the Bollinger Bands indicator is low, which does not give signals to enter the market.
Description of indicators
The material has been provided by InstaForex Company – www.instaforex.com
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