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GBPUSD: medium-term buys of the pair.

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

20 July 2022, GBP/USD

• Long-term trend: temporary uncertainty. The maximum accumulation of volumes of the current contract is located in the range, of quotations 1.22807-1.23104. 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 1.18258-1.18398. 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 18.07.2022.

• Quotation of the higher boundary of the zone 1/4 - 1.19653.

• Quotation of the higher boundary of the zone 1/2 - 1.18833.

• Intraday objectives: update the highs from 18.07.2022-1.20472.

• Medium-term objectives: test the lower bound of WCZ-1.20902.

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

• Buy: 1.18833-1.19653, Take Profit 1-1.20472, Take Profit 2-1.20902.

• WCZ (weekly control zone)

• GWCZ (golden weekly control zone)

• SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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