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GBPUSD: medium-term sells of the pair.

GBPUSD: medium-term sells of the pair. | 01 August 2023

01 August 2023, GBP/USD

• Long-term trend: goes long. The maximum accumulation of volumes of the current contract is located in the range, of quotations 1.26700-1.27300. At the moment, the pair is trading higher, indicating the strength of buyers.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 1.28370-1.28600. 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 28.07.2023.

• Quotation of the lower boundary of the zone 1/4-1.28618.

• Quotation of the lower boundary of the zone 1/2-1.29622.

• Intraday objectives: update the lows from 28.07.2023-1.27617.

• Medium-term objectives: test the higher bound of GWCZ - 1.25427.GBPUSD: medium-term sells of the pair.

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

• Sell: 1.29618-1.29618, Take Profit 1-1.27617, Take Profit 2-1.25427.

• WCZ (weekly control zone)

• GWCZ (golden weekly control zone)

• SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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