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12.09.201912:46 Forex Analysis & Reviews: Control zones for GBP / USD pair on 09/12/19

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The test of monthly short-circuit at the beginning of this week became an obstacle to growth. Moreover, the likelihood of further strengthening of the British pound decreased to 30%. The retest of the maximum of the current week can be considered for the formation of the "false breakdown" pattern.

Exchange Rates 12.09.2019 analysis

Since the end of last week, the formation of a local accumulation zone is taking place, which may become decisive in the search for a new priority. False breakdown of this zone will open the prices for a profitable entry into the position.

An alternative model will be developed if today's trading closes above a weekly high. This will indicate a continuation of the bullish momentum, but sales will have to wait as there will be opportunities for more profitable deals.

Exchange Rates 12.09.2019 analysis

Daily CZ - daily control zone. The area formed by important data from the futures market, which changes several times a year.

Weekly CZ - weekly control zone. The area formed by marks from the important futures market, which changes several times a year.

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

Samanta Kruder
Analytical expert of InstaForex
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