You are here: Home > articles > Forex > GBP/USD: plan for the European session on November 14. A preliminary agreement on Brexit has been reached
GBP/USD: plan for the European session on November 14. A preliminary agreement on Brexit has been reached
November 14, 2018 11:21 amVideo
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 for GBP/USD, it is required:
The issue of Ireland’s border seems to have been resolved, and consensus has been reached. This became known yesterday, which allows us to count on the solution of other, smaller issues in the Brexit agreement. It also retains hope for the continued growth of the pound. The breakout of the resistance of 1.3011 and the upper limit of the downward channel on the chart can lead to the continuation of the upward trend in the GBP/USD with the update of the highs of 1.3099 and 1.3163, where I recommend taking profit. In case the pound declines in the first half of the day, the formation of a false breakout in the support area of 1.2949 will also be a signal to open long positions. Otherwise, you can buy on a rebound from 1.2877.
To open short positions for GBP/USD, it is required:
Weak inflation data in the UK can significantly limit the upward potential of the pound and return sellers to the market. An unsuccessful consolidation above the resistance of 1.3011 will be a signal to open short positions in order to reduce to the area of the first support of 1.2949, the breakdown of which will lead to a larger sell-off of the GBP/USD with a minimum test of 1.2877, where I recommend taking profit. If the data is better than expected, a break of 1.3011 will lead to an increase in the pound. In this scenario, it is best to open short positions by rebounding from the highs of 1.3099 and 1.3163.
Indicator signals:
Moving averages
Trade has moved above the moving average, and the 30-day breaks up from the 50-day moving average, indicating a continuation of the upward correction for the pound.
Bollinger bands
The upper limit of the Bollinger Bands indicator, located in the area of 1.1045, can limit the upward potential in a pound, so you can see sales during the test. In case the pound declines, the lower limit of the indicator in the area of 1.2922 will be a good level for buying.
Indicator description
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: