26.01.201803:12 Forex Analysis & Reviews: Trading forecast EUR/GBP 01/26/2018

The downward movement is considered to be a priority. This week, the weekly CP at 0.8747-0.8730 was tested, which made it possible to record the highest sales opened last week.

Medium-term plan.

To continue the downward movement, it will be necessary to consolidate below the 0.8730 level during the next trading sessions. Since the weekly control zone (NKZ) has been broken, the next target may be the NKZ 1/2 0.8642-0.8634. This zone is located within the limits of the monthly KZ 0.8653-0.8624, which makes it more significant. Reaching the pair of monthly short-term bonds will require all short positions to be closed and consider purchases when forming a reversal pattern on the lower timeframe.

To form an alternative model, the resumption of the fall on the beginning of the current week will be required. If this happens, a medium-term accumulation zone will be formed where monthly extremes will take an exit.

Intraday plan.

The fixed resistance is the NKZ 1/2 0.8782-0.8774. While the pair is trading below this zone, the downward movement remains to be a priority. Sales from the control zone are the most profitable. The target of the downward movement will be NKZ 1/2 0.8642-0.8634, which makes short transactions profitable in terms of risk/profit ratio. To break the downward structure, one of the American sessions above the 0.8782 level is required to close. This will open the way for the medium-term growth of the pair.

Daytime CP is the daytime control zone. The zone formed by important data from the futures market, which change several times a year.

Weekly CP is the weekly control zone. The zone formed by important futures market marks, which change several times a year.

Monthly CP is the monthly control zone. The zone is a reflection of the average volatility over the past year.