GBPUSD. The Bank of England held the price at 1.3277

At the end of this week, the main trading direction might be a decline. This is possible since the Bank of England kept on accumulating limit orders above the level of 1.3277. The target of the downward movement is the banking zone with the support level of 1.3144. Upon reaching this zone, closing some of the sales is necessary.


Working in the accumulation zone involves searching for sales at the level of 1.3277 and purchases from the level of 1.3144. This strategy will allow you to focus on finding favorable prices and give you the opportunity to gain an advantage over the distance due to a positive risk-to-profit ratio.

If today's close takes place above the level of 1.3277, then there will be an exit from the accumulation zone. Purchases will come to the fore at tomorrow's European session. Since this model has a lower probability, it can be used as an auxiliary model.


The material has been provided by InstaForex Company -