GBPUSD: medium-term sells of the pair. | 31 Januari 2020

31 Januari 2020, GBP/USD

• Long-term trend: temporary uncertainty. The maximum accumulation of volumes of the current contract is located in the range, of quotations 1.30558-1.30673 and 1.31245-1.31385. 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 1.30529-1.30689. At the moment, the pair is trading higher, indicating the weakness of sellers.

• 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 14.01.2020.

• Quotation of the lower boundary of the zone 1/4-1.30583.

• Quotation of the lower boundary of the zone 1/2-1.31543.

• Intraday objectives: update the lows from 14.01.2020-1.29623.

• Medium-term objectives: test the higher bound of WCZ-1.29122.

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

• Sell: 1.30583-1.31543, Take Profit 1-1.29623, Take Profit 2-1.29122.

• WCZ (weekly control zone)

• GWCZ (golden weekly control zone)

• SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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