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Long-term review

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

Buyers did not cope with the task for the first half of the day and failed to maintain the support level of 1.2837, which I paid attention and now plays the role of resistance. Confidence in the strength of the British pound among speculative players will only be possible if the confidence in the strength of the British pound among speculative players is regained, which will lead to growth in the area of resistance 1.2885 and possibly to update of the maximum of 1.2944, where I recommend taking profits. In case of further GBP/USD decline, new long positions can be considered to rebound from a minimum of 1.2782 and 1.2723.

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

As long as trade is conducted below the resistance of 1.2837 and pressure on the pound will continue. Good data on the American economy will lead to more powerful GBP/USD movement down to the lows of 1.2782 and 1.2723, where I recommend taking profits. In the case of an upward correction in the second half of the day, short positions can be considered for a rebound from the resistance level of 1.2885 or sell from a larger maximum in the area of 1.2944.

More in the video forecast for February 14

Indicator signals:

Moving averages

Trade is conducted below the 30- and 50-day moving, which indicates the further formation of a bear market.

Bollinger bands

In the case of pound growth, the movement will be limited to the upper limit of the Bollinger Bands indicator in the area of 1.2885.

Exchange Rates 14.02.2019 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 © 2007-2020
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