To open long positions on the GBP / USD pair, you need:
The situation on the pound has not changed much. On the way, buyers formed a resistance level at 1.2752. Only a breakdown of which will signal a continuation of growth in the area of 1.2798, where I recommend taking profits. In the case of a decrease in the pound on the news on Brexit, support will be the area of 1.2702 and a breakdown can be best considered on new long positions to rebound from a minimum of 1.2657 and 1.2615.
To open short positions on the GBP / USD pair, you need:
Any negative news on Brexit will quickly return pound sellers. Consider short positions at the current time after the formation of a false breakdown in the area of 1.2752 or to rebound from a maximum of 1.2798. The main task of the bears in the afternoon will be a breakthrough and consolidation below support 1.2702, which will lead to a new sale of GBP/USD pair with a breakthrough of the minimum near 1.2657 and exit to 1.2615, where I recommend taking profits.
Trade is conducted in the area of 30- and 50-day moving averages, which indicates market uncertainty.
Bollinger Bands indicator volatility decreased. There are no market entry signals.
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