To open long positions on GBPUSD, you need:

In the first half of the day, I paid attention to the support level of 1.2572 and recommended that it open long positions when forming a false breakout there, which happened. If you look at the 5-minute chart, you will see how the bulls did not let the pair fall below the area of 1.2572 and the repeated test of this level formed a good signal to open long positions, which eventually led the GBP/USD to the resistance of 1.2625. There was the first profit-taking. However, larger players will expect to break through this range. Fixing at the level of 1.2625 will open a direct path to the maximum of 1.2676 and to the exit to the larger area of 1.2754, where I recommend fixing the profits. In the case of a downward correction in the second half of the day, you can still watch purchases when forming a false breakout in the support area of 1.2572, but I recommend opening long positions immediately on a rebound only from the minimum of 1.2526 in the calculation of a correction of 30-40 points within the day.

To open short positions on GBPUSD, you need:

At the moment, the important task of the bears is to break through and consolidate below the support of 1.2572, which was not possible in the first half of the day. Only such a scenario will knock down the bullish momentum and lead to a further major decline in the pound in the area of 1.2526. The longer-term goal remains at least 1.2448, where I recommend fixing the profits. An equally important task will be to protect the resistance of 1.2625, the first test of which has already taken place during the European session. However, it has not yet reached the formation of a false breakdown. Only this option will be a signal to open short positions in order to re-decrease to the support of 1.2572. I recommend opening short positions immediately for a rebound only after updating the larger level of 1.2676 in the expectation of a correction of 30-40 points within the day.

Signals of indicators:

Moving averages

Trading is conducted around the 30 and 50 daily averages, which indicates that buyers are trying to continue the bull market.

Note: The period and prices of moving averages are considered by the author on the hourly chart H1 and differ from the general definition of the classic daily moving averages on the daily chart D1.

Bollinger Bands

Breaking the upper limit in the area of 1.2625 will lead to a new wave of growth of the pound. A break in the lower border at 1.2572 will increase the pressure on the pound.

Description of indicators

• Moving average (moving average determines the current trend by smoothing out volatility and noise). Period 50. The graph is marked in yellow.
• Moving average (moving average determines the current trend by smoothing out volatility and noise). Period 30. The graph is marked in green.
• MACD indicator (Moving Average Convergence / Divergence - moving average convergence / divergence) Fast EMA period 12. Slow EMA period 26. SMA period 9
• Bollinger Bands (Bollinger Bands). Period 20