To open long positions on GBP / USD you need:

Pound growth stopped after the test of resistance 1.3295, to which I paid attention in my morning review. Only a confident breakthrough of this range will lead to an increase in demand for GBP / USD and the renewal of monthly highs around 1.3329 and 1.3375, where I recommend fixing the profits. In the event of a further decrease in the pound, it is best to rely on new purchases at the lower limit of the lateral range in the area of 1.3220 and 1.3182.

To open short positions on GBP / USD you need:

The data that the number of applications for unemployment benefits in the UK increased, put pressure on the pair, which was used by the sellers, opening short positions in the resistance area 1.3295, which I noticed in the morning. While trading will be conducted below this range, the pressure on GBP / USD will continue, but the main goal will be to return and update major support levels around 1.3220 and 1.3182, where I recommend fixing the profits.

Indicator signals:

Moving Averages

Trade is conducted in the area of 30-days and 50-medium moving, which indicates a high probability of a side channel.

Bollinger bands

Pound decline may be limited by the lower limit of the Bollinger Bands indicator around 1.3225.

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