GBPUSD: medium-term sells of the pair. | 16 May 2022

16 May 2022, GBP/USD

• Long-term trend: goes short. The maximum accumulation of volumes of the current contract is located in the range, of quotations 1.30999-1.31370. At the moment, the pair is trading lower, indicating the strength of sellers.GBPUSD: medium-term sells of the pair.

• Medium-term trend: goes short. The maximum accumulation of volumes of medium-term trend is located in the range, of quotations 1.23319-1.23582. 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 13.05.2022.

• Quotation of the lower boundary of the zone 1/4-1.22294.

• Quotation of the lower boundary of the zone 1/2-1.23034.

• Intraday objectives: update the lows from 13.05.2022-1.21554.

• Medium-term objectives: test the higher bound of SWCZ - 1.20454.GBPUSD: medium-term sells of the pair.

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

• Sell: 1.22294-1.23034, Take Profit 1-1.21554, Take Profit 2-1.20454.

• WCZ (weekly control zone)

• GWCZ (golden weekly control zone)

• SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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