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The pair continues to form an upward medium-term model. It is important to note that there was a move beyond the monthly short-term outline of January 1.3920-1.3874, which significantly increases the probability of return to its limits.
Medium-term plan.
The upward movement is a medium-term momentum, therefore there can be no question of sales from current marks. To work in a downward direction, you will need to create a reversal pattern on the lower timeframe. If there are long positions in the work, then it is necessary to keep the part that should be transferred to the breakeven, in case of a large offer. Such outlets beyond the average monthly volatility are rare, which implies the Bank of England's interest in strengthening the national currency.
The goal of the upward movement is a weekly short-term fault of 1.4179-1.4154, the test of which will tell the further development of events. On this zone, you can fix all purchases, since the probability of forming a return traffic to a monthly shortage is quite high.
Intraday plan.
Intraday transactions in the direction of growth are not profitable at this time. The monthly range of the average move by the pair has already been overcome, which increases the likelihood of a large offer, but already open positions for purchase should be kept in the event of continued growth of the pair to the weekly short-term 1.4179-1.4154. Achieving this zone will close the remainder of the position. For those who wish to continue working towards the growth of the pair, it is necessary to wait for a corrective decrease in order to obtain more favorable prices for the purchase.
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, which is a reflection of the average volatility over the past year.
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