GBPUSD: temporary uncertainty. | 04 January 2019

04 January 2019, GBP/USD

Long-term trend: temporary uncertainty. The maximum accumulation of volumes of the current contract is located in the range, of quotations 1.25923-1.26261. Currently, the pair is trading within the specified range, indicating a temporary uncertainty. Medium-term trend: goes short. The maximum accumulation of volumes of medium-term trend is located at the quote 1.25507. At the moment, the pair is trading higher, indicating the weakness of sellers. The area of profitable prices for sell in terms of marginal cover is located between zones 1/4 and 1/2 constructed from the minimum 03.01.2019. Quotation of the lower boundary of the zone 1/4 - 1.25217, quotation of the lower boundary of the zone 1/2 - 1.26171. Intraday objectives: update the lows from 03.01.2019 - 1.24274, medium-term objectives: test the higher bound of GWCZ - 1.22407. Trading recommendations: Volumes of the medium-term trend impede entry into a trade for sell, I recommend refraining from entering the trade.

WCZ (weekly control zone)

GWCZ (golden weekly control zone)

SWCZ (silver weekly control zone)

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James Hoggarth
Analyst of FreshForex
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