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GBPUSD: medium-term sells of the pair.

GBPUSD: medium-term sells of the pair. | 18 May 2020

18 May 2020, GBP/USD

• Long-term trend: goes short. The maximum accumulation of volumes of the current contract is located in the range, of quotations 1.23302-1.24373. At the moment, the pair is trading lower, indicating the strength of sellers. • Medium-term trend: goes short. The maximum accumulation of volumes of medium-term trend is located in the range, of quotations 1.23208-1.23368. 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 18.05.2020.

• Quotation of the lower boundary of the zone 1/4-1.21859.

• Quotation of the lower boundary of the zone 1/2-1.22939.

• Intraday objectives: update the lows from 18.05.2020-1.20778.

• Medium-term objectives: test the higher bound of GWCZ-1.19978.

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

• Sell: 1.21859-1.22939, Take Profit 1-1.20778, Take Profit 2-1.19978.

• WCZ (weekly control zone)

• GWCZ (golden weekly control zone)

• SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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