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GBPUSD: medium-term sells of the pair.

GBPUSD: medium-term sells of the pair. | 02 October 2020

02 October 2020, GBP/USD

• Long-term trend: goes short. The maximum accumulation of volumes of the current contract is located in the range, of quotations 1.28400-1.28650. 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 1.27792-1.28051. 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 23.09.2020.

• Quotation of the lower boundary of the zone 1/4-1.27949.

• Quotation of the lower boundary of the zone 1/2-1.29149.

• Intraday objectives: update the lows from 23.09.2020-1.26749.

• Medium-term objectives: test the higher bound of SWCZ-1.25238.

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

• Sell: 1.27949-1.29149, Take Profit 1-1.26749, Take Profit 2-1.25238.

• WCZ (weekly control zone)

• GWCZ (golden weekly control zone)

• SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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