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GBPUSD: medium-term buys of the pair.

GBPUSD: medium-term buys of the pair. | 29 October 2021

29 October 2021, GBP/USD

• Long-term trend: goes long. The maximum accumulation of volumes of the current contract is located in the range, of quotations 1.37651-1.37978. 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 1.37198-1.37322. 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 19.10.2021.

• Quotation of the higher boundary of the zone 1/4 - 1.37472.

• Quotation of the higher boundary of the zone 1/2 - 1.36612.

• Intraday objectives: update the highs from 19.10.2021-1.38332.

• Medium-term objectives: test the lower bound of GWCZ-1.39282.

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

• Buy: 1.36612-1.37472, Take Profit 1-1.38332, Take Profit 2-1.39282.

• WCZ (weekly control zone)

• GWCZ (golden weekly control zone)

• SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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