You are here: Home > articles > Forex > GBP/USD: plan for the European session on May 15. Bears are approaching an important support level of 1.2870
GBP/USD: plan for the European session on May 15. Bears are approaching an important support level of 1.2870
May 15, 2019 8:21 amVideo
Latest News
- Weekly Technical Outlook – GBPUSD, USDJPY, AUDUSD April 15, 2024
- Technical Analysis – Gold in a wait-and-see mode April 15, 2024
- UK inflation report could shift the market’s focus away from geopolitics – Preview April 15, 2024
- Gold Still Expected to Rise on Wall Street and Main Street April 15, 2024
- EUR/USD and GBP/USD: Technical analysis on April 15 April 15, 2024
- Analysis and trading tips for USD/JPY on April 15 April 15, 2024
- Analysis and trading tips for GBP/USD on April 15 April 15, 2024
- Analysis and trading tips for EUR/USD on April 15 April 15, 2024
- Hot forecast for EUR/USD on April 15, 2024 April 15, 2024
- Technical analysis of GBP/USD for April 15-20, 2024 April 15, 2024
- Technical analysis of EUR/USD for April 15-20, 2024 April 15, 2024
- Energy in Focus: What news awaits investors on Wall Street April 15, 2024
- Forecast for EUR/USD on April 15, 2024 April 15, 2024
- Forecast for GBP/USD on April 15, 2024 April 15, 2024
- Forecast for USD/JPY on April 15, 2024 April 15, 2024
- Outlook for EUR/USD on April 15. The euro is already falling for no apparent reason! April 15, 2024
- Trading plan for GBP/USD on April 15. Simple tips for beginners April 15, 2024
- Trading plan for EUR/USD on April 15. Simple tips for beginners April 15, 2024
- Euro will return to parity April 12, 2024
- Trading Signals for ETH/USD (Ethereum) for April 12-15, 2024: buy above $3,435 (3/8 Murray – 200 EMA) April 12, 2024
To open long positions on GBP / USD you need:
In order to stop a downward trend, buyers of the pound require a return and consolidation above the level of 1.2930, which they lost yesterday in the afternoon after a slight upward correction, which was formed due to the divergence on the MACD indicator. Only above the 1.2930 range would we be able to expect a more substantial demand for the pound, which will lead to an update of highs of 1.2983 and 1.3037, where I recommend taking profits. In case the GBP/USD drops further, it is best to look at long positions for a rebound from a low of 1.2877-70.
To open short positions on GBP/USD you need:
The lack of news on Brexit and disagreements between the UK parties are increasing the pressure on the pound. The goal of sellers today is to form a false breakdown in the resistance area of 1.2930, which will be the first signal to open short positions that could easily lead GBP/USD to the area of lows of 1.2870 and 1.2812, where I recommend taking profits. In case the pound rises above the resistance of 1.2930, short positions can be considered to rebound from a high of 1.2983.
Indicator signals:
Moving averages
Trading is below 30 and 50 moving averages, which indicates the bearish nature of the market.
Bollinger bands
In case the pound decreases further, support will be provided by the lower limit of the indicator in the area of 1.2889. The resistance is the upper limit in the 1.2935 area.
Description of indicators
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: