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GBPUSD: medium-term sells of the pair.

GBPUSD: medium-term sells of the pair. | 09 February 2023

09 February 2023, GBP/USD

• Long-term trend: temporary uncertainty. The maximum accumulation of volumes of the current contract is located in the range, of quotations 1.20260-1.21000. Currently, the pair is trading within the specified range, indicating a temporary uncertainty.

• Medium-term trend: goes short. The maximum accumulation of volumes of medium-term trend is located in the range, of quotations 1.23185-1.23350. 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 07.02.2023.

• Quotation of the lower boundary of the zone 1/4-1.20734.

• Quotation of the lower boundary of the zone 1/2-1.21854.

• Intraday objectives: update the lows from 07.02.2023-1.19614.

• Medium-term objectives: test the higher bound of GWCZ - 1.17834.

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

• Sell: 1.20734-1.21854, Take Profit 1-1.19614, Take Profit 2-1.17834.

• WCZ (weekly control zone)

• GWCZ (golden weekly control zone)

• SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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