Control zones for GBPUSD on 04/07/20

Closing yesterday's trading occurred below the WCZ 1/2 1.2268-1.2247. This indicates a change in priority to downward. The next goal of the fall will be the weekly control zone 1.2052-1.2009. The probability of the formation of a bearish model is 75%, so you need to look for patterns to sell the instrument.

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The reduction range is estimated at 230 points, so sales are already profitable from current levels. If the pair grows a little more, then this will give more favorable prices for selling.

An alternative growth model will allow returning to the limits of the formed accumulation zone. This will happen if the close of today's trading is higher than yesterday's peak. The formed absorption pattern of the daily level will indicate the emergence of a new large buyer.

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