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GBPUSD: medium-term sells of the pair.

GBPUSD: medium-term sells of the pair. | 01 September 2023

01 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 1.26800-1.27300. Currently, the pair is trading within the specified range, indicating a temporary uncertainty.

• Medium-term trend: goes short. The maximum accumulation of volumes of medium-term trend is located in the range, of quotations 1.27200-1.27400 and 1.26300-1.26500. 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 25.08.2023.

• Quotation of the lower boundary of the zone 1/4-1.26485.

• Quotation of the lower boundary of the zone 1/2-1.27484.

• Intraday objectives: update the lows from 25.08.2023-1.25484.

• Medium-term objectives: test the higher bound of SWCZ - 1.23444.

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

• Sell: 1.26485-1.27484, Take Profit 1-1.25484, Take Profit 2-1.23444.

• WCZ (weekly control zone)

• GWCZ (golden weekly control zone)

• SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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