GBP/USD
To open long positions for GBP/USD, it is required:
It would be best to consider new purchases of the pound after updating a larger support level located in the area of 1.3803, since the downward trend persists. The return of the GBP/USD pair to the resistance level of 1.3868, which was formed during the first half of the day, may lead to a larger correction with an update of 1.3914.
To open short positions for GBP/USD, it is required:
A retest of 1.3868 may lead to a breakthrough of this area with further selling of the GBP/USD to support area of 1.3803, where I recommend locking in the profit. If a major burst of volume from 1.3803 is not observed, the next wave of the pound's decline can be expected towards the area of 1.3767.
Indicator description
Moving Average (average sliding) 50 days - yellow Moving Average (average sliding) 30 days - green MACD: fast EMA 12, slow EMA 26, SMA Bollinger Bands 20