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06.12.2018 02:58 PM
GBP / USD pair: plan for the US session on December 6. Pound traded in a narrow range

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.

Indicator signals:

Moving averages

Trade is conducted in the area of 30- and 50-day moving averages, which indicates market uncertainty.

Bollinger bands

Bollinger Bands indicator volatility decreased. There are no market entry signals.

This image is no longer relevant

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

Miroslaw Bawulski,
Analytical expert of InstaForex
© 2007-2024
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