For Traders

Analytical Reviews

Trading plan

07.09.202105:25 Forex Analysis & Reviews: Implementation of the ascending GBP/USD pattern

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

It can be recalled that buying the GBP/USD after the close of trading above the Weekly Control Zone 1/2 1.3790-1.3773 was recommended last week. The pattern continues to form this week.

It is necessary to adhere to the plan. The upward target is the WCZ 1.3979-1.3945. After reaching this zone, it is possible to fix from 70 to 100% of the position. If one needs to find favorable prices for the purchase, then the nearest zone will be the Weekly Control Zone 1/4 1.3805-1.3797. And while the pair is trading above the level of 1.3797, the upward movement remains impulsive.

Any sell pattern of the instrument is highly risky. There is a 75% probability of updating the September high. Selling the instrument will not be profitable as long as the bullish pattern is forming.

There is no need to spread looking for a reversal in such a strong impulse movement. Before the formation of absorption, the monthly high will be broken, so purchases are profitable.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.