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GBPUSD: medium-term buys of the pair.

GBPUSD: medium-term buys of the pair. | 08 October 2020

08 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 1.29100-1.29250. Currently, the pair is trading within the specified range, indicating a temporary uncertainty. • Medium-term trend: goes long. The maximum accumulation of volumes of medium-term trend is located in the range, of quotations 1.28390-1.28630. At the moment, the pair is trading higher, indicating the strength of buyers.

• The area of profitable prices for buy in terms of marginal cover is located between zones 1/4 and 1/2 constructed from the maximum 06.10.2020.

• Quotation of the higher boundary of the zone 1/4 - 1.28883.

• Quotation of the higher boundary of the zone 1/2 - 1.27683.

• Intraday objectives: update the highs from 06.10.2020-1.30083.

• Medium-term objectives: test the lower bound of WCZ-1.31563.

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

• Buy: 1.27683-1.28883, Take Profit 1-1.30083, Take Profit 2-1.31563.

• WCZ (weekly control zone)

• GWCZ (golden weekly control zone)

• SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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