Control zones for GBPUSD on 05/04/20

Today's fall may provide two entry points. The first pattern will be an absorption towards growth, since the pair is trading near the defining support zone for WCZ 1/2 1.2426-1.2405. Keeping prices above the zone will enable you to buy the instrument. The purpose of purchases is the weekly control zone 1.2721-1.2678. Moving from current marks to the target zone will provide a favorable risk-to-profit ratio for a long transaction.

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It is important to understand that the upward movement is still a priority, so first the test of the zone must be considered for purchases.

In case today's trading in the European or American session closes below the WCZ 1/2, sales will come to the fore. The downward movement will become the weekly CZ 1.2210-1.2167. Work towards weakening the British pound could be the main one for the entire current week.

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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 zone formed by important marks of the futures market, which changes several times a year.

Monthly CZ - 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