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GBPUSD: medium-term buys of the pair.

GBPUSD: medium-term buys of the pair. | 13 October 2023

13 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 and 1.22550-1.22700. Currently, the pair is trading within the specified range, indicating a temporary uncertainty.

• 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 11.10.2023.

• Quotation of the higher boundary of the zone 1/4 - 1.22536.

• Quotation of the higher boundary of the zone 1/2 - 1.21696.

• Intraday objectives: update the highs from 11.10.2023-1.23376.

• Medium-term objectives: test the lower bound of WCZ-1.23746.

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

• Buy: 1.21696-1.22536, Take Profit 1-1.23376, Take Profit 2-1.23746.

• WCZ (weekly control zone)

• GWCZ (golden weekly control zone)

• SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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