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GBPUSD: medium-term sells of the pair.

GBPUSD: medium-term sells of the pair. | 29 September 2023

29 September 2023, GBP/USD

• Long-term trend: goes short. The maximum accumulation of volumes of the current contract is located in the range, of quotations 1.23750–1.24000. At the moment, the pair is trading lower, indicating the strength of sellers.

• Medium-term trend: goes short. The maximum accumulation of volumes of medium-term trend is located in the range, of quotations 1.23800-1.24100. 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 27.07.2023.

• Quotation of the lower boundary of the zone 1/4-1.21944.

• Quotation of the lower boundary of the zone 1/2-1.22784.

• Intraday objectives: update the lows from 27.07.2023-1.21104.

• Medium-term objectives: test the higher bound of GWCZ - 1.19424.

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

• Sell: 1.21944-1.22784, Take Profit 1-1.21104, Take Profit 2-1.19424.

• WCZ (weekly control zone)

• GWCZ (golden weekly control zone)

• SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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