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17.07.202004:51 Forex Analysis & Reviews: Control zones for GBPUSD on 07/17/2020

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The probability of growth of the pair is estimated at 75%, which makes it possible to hold purchases and open new ones. Yesterday, the first support zone of the WCZ 1/4 1.2541-1.2531 was tested. If the price holds above this zone, the first purchase fixation will occur when the monthly maximum is updated.

Working within the local accumulation zone involves searching for favorable purchase prices at the lower border of the flat and fixing them at the upper border.

To get the most favorable prices for the purchase of the instrument, you will need to reduce the pair to the WCZ 1/2 1.2453-1.2432. Its test will allow you to buy the instrument and hold a long position up to the monthly extreme. The main growth target remains the weekly CZ 1.2726-1.2683, the test of which will determine the further priority.

Daily control zone. A zone formed by important data from the futures market that changes several times a year.

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

Monthly control zone. A zone that reflects the average volatility over the past year.

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