Control zones GBP / USD 11.07.18

The current week's movement indicates the formation of a local accumulation zone, which was formed between the two control zones. The resistance is the weekly short-term fault 1.3329-1.2294, support - NCP 1/2 1.3234-1.3222.

Yesterday and the day before yesterday, there was a test of NCP 1/2 1.3234-1.3222, which led to an increase in demand. This indicates a higher probability of continuing the upward movement and updating the July high in the short term. In the case of continuing growth, special attention should be paid to the repeated test of a weekly short-term fault of 1.3329-1.3304. If a large offer appears again above the indicated zone, the pair will continue to trade within the framework of the flat, which will enter the medium-term stage. To confirm the upward momentum, the closing of today's US session above level 1.3329 is required. In this case, the next growth target will be the NCP 1/2 of 1.3470-1.3457.analytics5b4582c7e9a6d.png

Purchases today are possible only in the case of a second test of the NCP 1/2 1.3234-1.3222, as in this case, the risk-to-profit ratio will exceed 1 to 3, which will make our deal profitable.

To disrupt the upward momentum, today's US session will be closed below the level of 1.3222. This will indicate the completion of the upward cycle and determine the trade for the second half of the week. The first goal of the fall will be a weekly short-term fault of 1.3106-1.3081. Trade will go into the phase of the flotation, where fixations are required at significant monthly extremes and the search for entry points from the range boundaries.

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The daily short-term fault is the daytime control zone. The zone formed by important data from the futures market, which change several times a year.

The weekly short-term fault is the weekly control zone. The zone formed by important futures market marks, which change several times a year.

The monthly short-term fault is the monthly control zone. The zone, which is a reflection of the average volatility over the past year.

The material has been provided by InstaForex Company - www.instaforex.com