GBPUSD: medium-term buys of the pair. | 21 January 2019
21 January 2019, GBP/USD
Long-term trend: goes long. The maximum accumulation of volumes of the current contract is located in the range, of quotations 1.26444-1.26793 and 1.28711. At the moment, the pair is trading higher, indicating the strength of buyers.
Medium-term trend: goes long. The maximum accumulation of volumes of the current contract is located in the range, of quotations 1.28538-1.28765. Currently, the pair is trading within the specified range, indicating a temporary uncertainty. The area of profitable prices to buy in terms of marginal cover is located between zones 1/4 and 1/2 constructed from the maximum 17.01.2019.
Quotation of the higher boundary of the zone 1/4-1.29058.
Quotation of the higher boundary of the zone 1/2-1.28080.
Intraday objectives: update the highs from 17.01.2019-1.29992.
Medium-term objectives: test the lower bound of GWCZ-1.31934.
Trading recommendations: the volume of the medium-term trend prevents the entry into the deal to buy, I recommend staying out of the market or very careful buys from the range of favorable prices 1.28080-1.29058 in the formation of a reversal pattern.
Buy: 1.28080-1.29058, Take Profit 1-1.29992, Take Profit 2-1.31934.
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