Control zones of GBP / USD as of September 10, 2018

On Fridays, the realization of the basic ascending model and the formation of the pattern of absorption of the day period occurred. This became possible due to the expiration of the option contract, which led to an increase in volatility.

On Friday, a short-term test took place at 1.3048-1.3024, which allowed to close the long position in full or in part. Also, the test zone led to the appearance of a large supply and the absorption of European growth completely. Today, the pair is trading near the defining support for NCP 1/2 1.2907-1.2895, the test of which will indicate further priority. Holding the price above this zone will allow us to work in the upward direction within the medium-term accumulation zone. This model will be a continuation of the upward movement in early August.

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From the further fall, the pair is held by NCP 1/2, so special attention should now be given to this zone. Reaction to its test will allow determining the exact direction of trade.

To form a reversal model, the closing of today's US session is required below the level of 1.2895. This will entail a further decline in the rate, the goal of which will be a weekly short-term target of 1.2787-1.2763. This model will continue to form the medium-term accumulation zone, formed in late August and early September. The probability of forming this model is 50%, so it must be considered on an equal footing with the ascending one and taken into account when building a daily trading plan.

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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