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To open long positions on the GBP / USD pair, you need:

Statements by the Minister of Commerce of Great Britain saying that it was impossible to work out and implement the deal by March 29 led to the strengthening of the pound in the first half of the day, as many traders expect to extend the exit from the EU. Fixation above the level of 1.3006 with testing from top to bottom in the afternoon will be a good signal to continue buying of the pound to a maximum of 1.3064 and 1.3127, where I recommend taking profits. In the case of a return below the level of 1.3006, long positions can return immediately to the rebound from the support of 1.2944.

To open short positions on the GBP / USD pair, you need:

The growth of the pound continued and the breakthrough of resistance 1.3006 led only to the removal of a number of stop orders. At the moment, it is best to return to short positions after updating the highs around 1.3064 and immediately to the rebound from 1.3127. The main task of sellers in the afternoon will be the return of GBP / USD to the support level 1.3006, which will lead to the closure of a number of long positions and the correction of the pound to the support area of 1.2944.

More in the video forecast for January 23

Indicator signals:

Moving averages

Trading takes place above the 30-day and 50-day moving, indicating the bullish nature of the market.

Bollinger bands

A break of the upper limit of the Bollinger Bands indicator signifies the presence of pound buyers in the market and as long as trade is above the middle of the channel at 1.2965, the demand will remain.

Exchange Rates 23.01.2019 analysis

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 market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Performed by Ruben Watson,
Analytical expert
InstaForex Group © 2007-2019
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