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GBPUSD: medium-term sells of the pair.

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

16 August 2022, GBP/USD

• Long-term trend: goes long. The maximum accumulation of volumes of the current contract is located in the range, of quotations 1.20744-1.20922. At the moment, the pair is trading lower, indicating the weakness of buyers.

• Medium-term trend: goes short. The maximum accumulation of volumes of medium-term trend is located in the range, of quotations 1.22159-1.22293. 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 16.08.2022.

• Quotation of the lower boundary of the zone 1/4-1.21248.

• Quotation of the lower boundary of the zone 1/2-1.22148.

• Intraday objectives: update the lows from 16.08.2022-1.20347.

• Medium-term objectives: test the higher bound of WCZ - 1.19188.

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

• Sell: 1.21248-1.22148, Take Profit 1-1.20347, Take Profit 2-1.19188.

• WCZ (weekly control zone)

• GWCZ (golden weekly control zone)

• SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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