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GBPUSD: medium-term buys of the pair.

GBPUSD: medium-term buys of the pair. | 20 May 2022

20 May 2022, GBP/USD

• Long-term trend: goes long. The maximum accumulation of volumes of the current contract is located in the range, of quotations 1.31203-1.31370. At the moment, the pair is trading lower, indicating the weakness of buyers.

• Medium-term trend: goes long. The maximum accumulation of volumes of medium-term trend is located in the range, of quotations 1.24671-1.24873. At the moment, the pair is trading lower, indicating the weakness 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 19.05.2022.

• Quotation of the higher boundary of the zone 1/4 - 1.24499.

• Quotation of the higher boundary of the zone 1/2 - 1.23759.

• Intraday objectives: update the highs from 19.05.2022-1.25238.

• Medium-term objectives: test the lower bound of GWCZ-1.25999.

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

• Buy: 1.23759-1.24499, Take Profit 1-1.25238, Take Profit 2-1.25999.

• WCZ (weekly control zone)

• GWCZ (golden weekly control zone)

• SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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