empty
26.04.2021 08:26 AM
GBP/USD: plan for the European session on April 26. COT reports. Bulls rise above 1.3892 and expect the pound to continue rising

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

Last Friday afternoon was much more interesting. Let's take a look at the 5 minute chart and figure out the entry points. In the course of the European session, to my regret, we did not get the resistance update at 1.3892, which did not make it possible for us to create a good entry point for short positions. However, after the release of reports on the activity of the US economy, the 1.3892 level was still tested and after forming a false breakout on it, the pound quickly rolled back down to the support area of 1.3834, where the bulls emerged. Updating this level created a good entry point into long positions, afterwards the GBP/USD pair returned to the day's high, where trading ended.

This image is no longer relevant

In today's Asian session, the bulls have surpassed the 1.3892 range and now the main task is to consolidate on it. Forming a false breakout at this level can create an excellent entry point into long positions, for the purpose of pushing the pound to rise to the resistance area of 1.3944, where I recommend taking profits. However, in order for the bullish market to continue, the bulls will need to surpass this range as well. Consolidating on it and being able to test this level from top to bottom creates a good entry point to long positions, which will return the pair to the area of the monthly high of 1.4000. If the pound declines in the first half of the day and traders are not active around 1.3892, then it is best not to rush to buy: the best option would be to open long positions immediately on a rebound from a new local low like 1.3838, which was formed last Friday, or even lower - around 1.3792 based on an upward correction of 25-30 points within the day.

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

The bears need to think of a way to regain support at 1.3892, such a scenario can return the pair to the horizontal channel, in which it spent the entirety of last Friday. Pulling down the quote and testing the 1.3892 level from the bottom up creates a good signal for opening short positions in GBP/USD with the main goal of reaching the support area of 1.3838, from where the pound began to actively grow last Friday. Surpassing this range will enable the bears to regain control of the market, which will push GBP/USD to a low like 1.3792, where I recommend taking profits. Considering that important fundamental data on the UK economy will not be published in the first half of the day, then it is possible that the pound can continue rising to the resistance area of 1.3944. Forming a false breakout there can create a good entry point for short positions in hopes that the pair can reach the support area of 1.3892. If the bears are not active there then the optimal scenario would be to sell immediately on a rebound from the monthly local high in the 1.4000 area, counting on a downward correction of 25-30 points within the day.

This image is no longer relevant

The Commitment of Traders (COT) for April 13 revealed an increase in both long and short positions, while the total non-commercial net position grew, which indicates that the bulls are more active. Good fundamental data, which have recently been released on the UK economy, once again prove that there is a fairly high probability of strong economic growth rates in the second quarter of this year, which will further contribute to the pound's growth in the medium term. The Bank of England has long been talking about how to proceed with stimulating monetary policy, as additional inflation concerns will emerge as the economy grows. The pound's growth at the beginning of this week once again proves its appeal for big players and, most likely, the bull market will only gain momentum by this summer.

The COT report indicated that long non-commercial positions rose from 45,270 to 52,851. At the same time, short non-commercials increased from 25,219 to 27,261, bringing the non-commercial net position to 25,590 from 19,951 weeks earlier. On the contrary, the weekly closing price dropped to 1.3753 from 1.3913.

Indicator signals:

Moving averages

Trading is carried out just above the 30 and 50 moving averages, which indicates an attempt by the bulls to resume the pound's growth.

Note: The period and prices of moving averages are considered by the author on the H1 hourly chart and differs from the general definition of the classic daily moving averages on the daily D1 chart.

Bollinger Bands

In the event of a decline, support will be provided by the lower level of the indicator at 1.3838, from where you can buy the pound immediately on a rebound.

Description of indicators

  • Moving average (moving average, determines the current trend by smoothing out volatility and noise). Period 50. It is marked in yellow on the chart.
  • Moving average (moving average, determines the current trend by smoothing out volatility and noise). Period 30. It is marked in green on the chart.
  • MACD indicator (Moving Average Convergence/Divergence — convergence/divergence of moving averages) Quick EMA period 12. Slow EMA period to 26. SMA period 9
  • Bollinger Bands (Bollinger Bands). Period 20
  • Non-commercial speculative traders, such as individual traders, hedge funds, and large institutions that use the futures market for speculative purposes and meet certain requirements.
  • Long non-commercial positions represent the total long open position of non-commercial traders.
  • Short non-commercial positions represent the total short open position of non-commercial traders.
  • Total non-commercial net position is the difference between short and long positions of non-commercial traders.
Seleccione el marco de tiempo
5
min
15
min
30
min
1
hora
4
horas
1
día
1
s.
Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO

Recommended Stories

GBP/USD: plan para la sesión europea del 17 de marzo. Informes COT Commitment of Traders (análisis de las operaciones de ayer). La libra se obstina en no querer caer

El viernes pasado se formaron varios puntos de entrada en el mercado. Echemos un vistazo al gráfico de 5 minutos y veamos qué sucedió allí. En mi pronóstico

Miroslaw Bawulski 07:31 2025-03-17 UTC+2

EUR/USD: plan para la sesión europea del 17 de marzo. Informes COT Commitment of Traders (análisis de las operaciones de ayer). El euro está encerrado en un canal lateral

El viernes pasado sólo se formó un punto de entrada. Echemos un vistazo al gráfico de 5 minutos y entendamos lo que ocurrió allí. En mi pronóstico de la mañana

Miroslaw Bawulski 07:31 2025-03-17 UTC+2

GBP/USD: plan para la sesión europea del 14 de marzo. Informes COT del Commitment of Traders (análisis de las operaciones de ayer). La libra mantiene sus posibilidades de subir

Ayer se formaron varios puntos de entrada en el mercado. Echemos un vistazo al gráfico de 5 minutos y veamos qué sucedió allí. En mi pronóstico de la mañana presté

Miroslaw Bawulski 07:34 2025-03-14 UTC+2

EUR/USD: plan para la sesión europea del 14 de marzo. Informes COT del Commitment of Traders (análisis de las operaciones de ayer). El euro sigue corrigiéndose

Ayer se formaron varios puntos de entrada en el mercado. Echemos un vistazo al gráfico de 5 minutos y veamos qué sucedió allí. En mi pronóstico de la mañana presté

Miroslaw Bawulski 07:34 2025-03-14 UTC+2

GBP/USD: plan para la sesión europea del 13 de marzo. Informes COT del Commitment of Traders (análisis de las operaciones de ayer). La libra alcanza otro máximo de un mes

GBP/USD: plan para la sesión europea del 13 de marzo. Informes COT del Commitment of Traders (análisis de las operaciones de ayer). La libra alcanza otro máximo

Miroslaw Bawulski 07:23 2025-03-13 UTC+2

EUR/USD: plan para la sesión europea del 13 de marzo. Informes COT Commitment of Traders (análisis de las operaciones de ayer). El euro apenas reaccionó a la inflación estadounidense

Ayer se formaron varios puntos de entrada en el mercado. Echemos un vistazo al gráfico de 5 minutos y veamos qué ocurrió allí. En mi pronóstico de la mañana presté

Miroslaw Bawulski 07:23 2025-03-13 UTC+2

GBP/USD: plan para la sesión europea del 12 de marzo. Informes COT del Commitment of Traders (análisis de las operaciones de ayer). La libra sigue subiendo

Ayer se formaron varios puntos de entrada en el mercado. Echemos un vistazo al gráfico de 5 minutos y veamos qué ocurrió. En mi pronóstico de la mañana presté atención

Miroslaw Bawulski 07:49 2025-03-12 UTC+2

EUR/USD: plan para la sesión europea del 12 de marzo. Informes COT Commitment of Traders (análisis de las operaciones de ayer). El euro apunta a 1,10

Ayer se formaron varios puntos de entrada. Echemos un vistazo al gráfico de 5 minutos y veamos qué ocurrió. En mi previsión de la mañana, me centré en el nivel

Miroslaw Bawulski 07:49 2025-03-12 UTC+2

GBP/USD: plan para la sesión europea del 6 de marzo. Informes COT Commitment of Traders (análisis de las operaciones de ayer). La libra sufrió una pequeña corrección

Ayer se formaron varios buenos puntos de entrada en el mercado. Echemos un vistazo al gráfico de 5 minutos y veamos qué sucedió allí. En mi pronóstico de la mañana

Miroslaw Bawulski 07:19 2025-03-07 UTC+2

EUR/USD: plan para la sesión europea del 7 de marzo. Informes COT Commitment of Traders (análisis de las operaciones de ayer). El BCE baja las tasas de interés

Ayer se formaron varios puntos de entrada en el mercado. Echemos un vistazo al gráfico de 5 minutos y veamos qué sucedió allí. En mi pronóstico de la mañana presté

Miroslaw Bawulski 07:19 2025-03-07 UTC+2
¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.