To open long positions on GBPUSD, you need:

A small technical correction of the pound in the area of support levels, which I paid attention to in my morning forecast, did not greatly affect the balance of forces. Let me remind you that Johnson's Conservative Party won a majority of 650 seats in the House of Commons, which will allow moving more quickly towards signing a Brexit agreement with the EU. This is a good signal for buyers. In the short term, while the bulls hold the support of 1.3375, we can expect a new sharp wave of growth of the British pound, otherwise, we can consider new long positions immediately on the rebound from the lows of 1.3316 and 1.3265. The bulls are waiting for data on the volume of retail sales in the United States and will begin to act more actively after them. The return of the level of 1.3437 will strengthen the demand for the pound and lead to a larger increase in the area of monthly highs of 1.3523, and possibly to their renewal, which will allow reaching the area of 1.3563 and 1.3604, where I recommend taking the profits.

To open short positions on GBPUSD, you need:

The bears performed well on the morning targets, and further downward movement depends entirely on the data on retail sales in the United States. A weak report will quickly return the pound buyers to the market, so it is best to postpone short positions until a false breakout is formed in the resistance area of 1.3437, or sell immediately for a rebound from today's high in the area of 1.3523. On the contrary, a good report will lead to a breakthrough of the support of 1.3375, which the sellers of the pound rested against, which will push GBP/USD even lower to the lows of 1.3316 and 1.3265, where I recommend taking the profits. Any positive news related to Brexit will continue to push the pound up, so short positions in the pair should be treated very carefully.

Indicator signals:

Moving Averages

Trading is above the 30 and 50 daily averages, indicating a bullish market scenario.

Bollinger Bands

Breaking the lower border of the indicator around 1.3164 will lead to a larger sell-off of GBP/USD.

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