Control zones for GBP/USD on 12/02/19

Today's opening of trading occurred with a price gap relative to the closing of Friday. This makes it possible to say that the gap is closed in 90% of cases. Now, growth to the maximum of the last month should be considered as an opportunity to search for a pattern for sale. The first target will be a minimum of November.

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Working within the framework of the flat indicates the need to use extremes to enter a position and fix profits.

The option to exit the flat will be developed if the closure of one of the next American sessions occurs above the November maximum. This will provide an opportunity to search for favorable prices for the purchase in the medium term. The defining resistance is the Weekly Control Zone 1/2 1.2979-1.2960.

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

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

Monthly CZ - monthly control zone. The zone that reflects the average volatility over the past year.

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