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GBPUSD: medium-term sells of the pair.

GBPUSD: medium-term sells of the pair. | 17 February 2020

17 February 2020, GBP/USD

• Long-term trend: temporary uncertainty. The maximum accumulation of volumes of the current contract is located in the range, of quotations 1.30095-1.30298. 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 in the range, of quotations 1.29857-1.29961. 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 10.02.2020.

• Quotation of the lower boundary of the zone 1/4-1.29705.

• Quotation of the lower boundary of the zone 1/2-1.30665.

• Intraday objectives: update the lows from 10.02.2020-1.28745.

• Medium-term objectives: test the higher bound of WCZ-1.28305.

• Trading recommendations: sells from the range of favorable prices in the formation of a reversal pattern.

• Sell: 1.29705-1.30665, Take Profit 1-1.28745, Take Profit 2-1.28305.

• WCZ (weekly control zone)

• GWCZ (golden weekly control zone)

• SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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