GBPUSD: medium-term sells of the pair. | 18 October 2023

18 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.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 1.21650-1.21800. Currently, the pair is trading within the specified range, indicating a temporary uncertainty.

• 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 13.10.2023.

• Quotation of the lower boundary of the zone 1/4-1.22069.

• Quotation of the lower boundary of the zone 1/2-1.22909.

• Intraday objectives: update the lows from 13.10.2023-1.21228.

• Medium-term objectives: test the higher bound of WCZ - 1.20018.GBPUSD: medium-term sells of the pair.

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

• Sell: 1.22069-1.22909, Take Profit 1-1.21228, Take Profit 2-1.20018.

• 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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