You are here: Home > articles > Forex > GBP/USD: plan for the US session on January 8. The pound remains in the channel and awaits news from the British Parliament
GBP/USD: plan for the US session on January 8. The pound remains in the channel and awaits news from the British Parliament
January 9, 2019 12:21 amVideo
Latest News
- Video market update for April 23, 2024 April 23, 2024
- Trading Signals for EUR/USD for April 23-25, 2024: buy above 1.0681 (21 SMA – 3/8 Murray) April 23, 2024
- Analysis for the EUR/USD pair on April 23rd. Euro currency prepares for another decline April 23, 2024
- Analysis for the GBP/USD pair on April 23rd. Sellers failed to take the mark of 1.2313 on the first attempt April 23, 2024
- Technical Analysis – AUDUSD gears up after disappointing US PMIs April 23, 2024
- Technical Analysis – Meta stock falls below 50-SMA ahead of earnings April 23, 2024
- USD/JPY: Simple trading tips for novice traders on April 23rd (US session) April 23, 2024
- GBP/USD: Simple trading tips for novice traders on April 23rd (US session) April 23, 2024
- Technical Analysis – USDJPY fights with new 34-year high April 23, 2024
- EUR/USD: Simple trading tips for novice traders on April 23rd (US session) April 23, 2024
- Alphabet Q1 Earnings: Strong ad business but AI initiatives lag – Stock Markets April 23, 2024
- GBP/USD: trading plan for the US session on April 23rd (analysis of morning deals). The pound continues to decline April 23, 2024
- EUR/USD: trading plan for the US session on April 23rd (analysis of morning deals). The euro has shown rapid growth April 23, 2024
- EUR/USD. April 23rd. Bulls and bears are in balance April 23, 2024
- GBP/USD. April 23rd. The bears continue to attack April 23, 2024
- Gold edges lower as Middle East tensions ease April 23, 2024
- Slightly lower volatility across the board ahead of key US data – Volatility Watch April 23, 2024
- Technical Analysis – UK 100 index hits new all-time highs but rally may be cooling April 23, 2024
- XM Teams up with ‘Charity Right’ for Change April 23, 2024
- Technical Analysis – US 500 index rebounds off 2-month low below 5,000 April 23, 2024
To open long positions on GBP/USD, it is required:
While trading is above the support of 1.2753, buyers of the British pound still have a chance to continue the upward trend, but this requires a breakout and consolidation above the resistance of 1.2798, which will open the way to new monthly highs in the area of 1.2868 and 1.2929, where I recommend taking profit. In case of a decline below the support level of 1.2753, it is best to consider long positions on the rebound from the lows of 1.2708 and 1.2658.
To open short positions on GBP / USD is required:
The emerging divergence on the MACD indicator did not allow the bears to break below the support of 1.2753 in the first half of the day. Only an unsuccessful consolidation above 1.2798 with a return to the level of 1.2753 will lead to a larger sale of GBP/USD with a test of lows in the area of 1.2708 and 1.2658, where I recommend to take profit. Positive news on Brexit from the British Parliament may lead to a sharp increase in the pound. In this scenario, you can open short positions after updating the highs of 1.2868 and 1.2929.
Indicator signals:
Moving averages
Trading is conducted in the area of 30-day and 50-day moving, which indicates a possible change in the bullish trend.
Bollinger Bands
Volatility has fallen and the Bollinger Bands indicator does not give signals on entering the market.
Description of indicators
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: