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GBPUSD: medium-term buys of the pair.

GBPUSD: medium-term buys of the pair. | 17 August 2021

17 August 2021, GBP/USD

• Long-term trend: goes short. The maximum accumulation of volumes of the current contract is located in the range, of quotations 1.38514-1.38647. At the moment, the pair is trading lower, indicating the strength of sellers.

• Medium-term trend: goes long. The maximum accumulation of volumes of medium-term trend is located in the range, of quotations 1.37438-1.37556. 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 30.07.2021.

• Quotation of the higher boundary of the zone 1/4 - 1.38980.

• Quotation of the higher boundary of the zone 1/2 - 1.38120.

• Intraday objectives: update the highs from 30.07.2021-1.39840.

• Medium-term objectives: test the lower bound of GWCZ-1.40880.

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

• Buy: 1.38120-1.38980, Take Profit 1-1.39840, Take Profit 2-1.40880.

• WCZ (weekly control zone)

• GWCZ (golden weekly control zone)

• SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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