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GBPUSD: medium-term buys of the pair.

GBPUSD: medium-term buys of the pair. | 08 November 2023

08 November 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 1.21300-1.21550. 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 06.11.2023.

• Quotation of the higher boundary of the zone 1/4 - 1.23533.

• Quotation of the higher boundary of the zone 1/2 - 1.22773.

• Intraday objectives: update the highs from 06.11.2023-1.24293.

• Medium-term objectives: test the lower bound of GWCZ-1.25252.

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

• Buy: 1.22773-1.23533, Take Profit 1-1.24293, Take Profit 2-1.25252.

• WCZ (weekly control zone)

• GWCZ (golden weekly control zone)

• SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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