FX.co ★ GBP / USD pair: plan for the American session on December 18. The pound strengthened against the backdrop of a weak US dollar

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

Pound buyers coped with the goal for the first half of the day, which I talked about in more detail in the morning forecast . At the moment, all the attention of the bulls will be focused on the formation of a false breakdown and retention of the level of 1.2686, which will lead to a larger increase in the second half of the day to the area of 1.2740, where I recommend taking profits. In the case of a decline in GBP / USD, long positions can return to rebound from the support of 1.2643.

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

Pound sellers need to return to the resistance level of 1.2686, which will lead to the closure of a number of long positions in GBP / USD and a decrease to the support area of 1.2643, where I recommend taking profits. In the absence of bears around 1.2686 and a rapid decline in the pound, it is best to look at short positions at a rebound from the high of 1.2740. Any negative news on Brexit can quickly return the market to a steep downward peak.

Indicator signals:

Moving averages

Trade persisted above the 30- and 50-day moving, which indicates the formation of the bullish nature of the market.

Bollinger bands

In the case of a decrease in the pound in the afternoon, long positions can be considered immediately to rebound from the middle border of the Bollinger Bands indicator around 1.2625, which acts as a support.

Description of in dicators

MA (moving average) 50 days - yellow

MA (moving average) 30 days - green

MACD: fast EMA 12, slow EMA 26, SMA 9

Bollinger Bands 20