FX.co ★ GBP / USD plan for the American session on February 15. Pound regained a number of positions after good retail sales

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

Pound regained a number of positions after good retail sales data, which turned out to be better than economists' forecasts. However, the technical picture remained unchanged. At the moment, bulls need to return to the resistance of 1.2826 and only a higher fixation will lead to a larger upward correction in the area of 1.2880 and 1.2944, where I recommend to fix profits. With the scenario of GBP/USD decline in the second half of the day, you can look at long positions at a low of this week around 1.2769 or buy a pound immediately for a rebound from a new low of 1.2723.

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

While the trade is conducted below 1.2826, the pressure on the pound will continue and the main purpose of the bears will be to break the week low of 1.2769. We can expect sellers to return to the market on levels lower than this, which will lead to an update of the area 1.2723 and 1.2672, where I recommend fixing profits. In the case of good news from Theresa May and Brexit regarding the timing of the postponement of the UK exit from the EU, the demand for the pound may return. In this scenario, you can sell on a rebound from a maximum of 1.2880 or 1.2944.

More in the video forecast for February 15

Indicator signals:

Moving averages

Trade is conducted in the area of 30- and 50-medium moving, which indicates the possible formation of the lateral nature of the market.

Bollinger bands

The volatility of the Bollinger Bands indicator is low, which does not give signals to enter the market.

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