GBPUSD: medium-term buys of the pair. | 17 October 2022

17 October 2022, GBP/USD

• Long-term trend: temporary uncertainty. The maximum accumulation of volumes of the current contract is located in the range, of quotations 1.12567-1.12980. At the moment, the pair is trading lower, indicating the strength of sellers.GBPUSD: medium-term buys of the pair.

• Medium-term trend: goes long. The maximum accumulation of volumes of medium-term trend is located in the range, of quotations 1.10650- 1.10856. At the moment, the pair is trading higher, indicating the strength of buyers.

• 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 13.10.2022.

• Quotation of the higher boundary of the zone 1/4 - 1.12788.

• Quotation of the higher boundary of the zone 1/2 - 1.11768.

• Intraday objectives: update the highs from 13.10.2022-1.13808.

• Medium-term objectives: test the lower bound of GWCZ-1.15348.GBPUSD: medium-term buys of the pair.

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

• Buy: 1.11768-1.12788, Take Profit 1-1.13808, Take Profit 2-1.15348.

• WCZ (weekly control zone)

• GWCZ (golden weekly control zone)

• SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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