GBPUSD: medium-term buys of the pair. | 10 October 2023

10 October 2023, GBP/USD

• Long-term trend: goes short. The maximum accumulation of volumes of the current contract is located in the range, of quotations 1.21250-1.21600. At the moment, the pair is trading higher, indicating the weakness of sellers.

• Medium-term trend: goes long. The maximum accumulation of volumes of medium-term trend is located in the range, of quotations 1.21150-1.21300. 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 06.10.2023.

• Quotation of the higher boundary of the zone 1/4 - 1.21771.

• Quotation of the higher boundary of the zone 1/2 - 1.20931.

• Intraday objectives: update the highs from 06.10.2023-1.22610.

• Medium-term objectives: test the lower bound of WCZ-1.23740.

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

• Buy: 1.20931-1.21771, Take Profit 1-1.22610, Take Profit 2-1.23740.

• WCZ (weekly control zone)

• GWCZ (golden weekly control zone)

• SWCZ (silver weekly control zone)


The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
James Hoggarth
Analyst of FreshForex
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