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GBPUSD: medium-term sells of the pair.

GBPUSD: medium-term sells of the pair. | 07 May 2020

07 May 2020, GBP/USD

• Long-term trend: temporary uncertainty. The maximum accumulation of volumes of the current contract is located in the range, of quotations 1.24202-1.24545. At the moment, the pair is trading lower, indicating the strength of sellers.GBPUSD: medium-term sells of the pair. • Medium-term trend: goes short. The maximum accumulation of volumes of medium-term trend is located in the range, of quotations 1.24373-1.24555. At the moment, the pair is trading lower, indicating the strength 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 07.05.2020.

• Quotation of the lower boundary of the zone 1/4-1.24188.

• Quotation of the lower boundary of the zone 1/2-1.25268.

• Intraday objectives: update the lows from 07.05.2020-1.23108.

• Medium-term objectives: test the higher bound of WCZ-1.22127. GBPUSD: medium-term sells of the pair.

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

• Sell: 1.24188-1.25268, Take Profit 1-1.23108, Take Profit 2-1.22127.

• WCZ (weekly control zone)

• GWCZ (golden weekly control zone)

• SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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