Prolonged flat of the GBP/USD pair continues

A movement within the medium-term flat involves searching for sales from the upper limit and purchases from the lower one. Today, the GBP/USD is trading at the upper range. The main support is the Weekly Control Zone 1/4 1.3637-1.3627. If testing this zone leads to a large demand, then buying will be considered.


To enter a long position, it is suggested to wait for the formation of the "absorption" pattern on the M30-H1 time frame. This will allow you to get a favorable risk-to-profit ratio.

If today's trading closes below the level of 1.3627, then sales will come to the fore in tomorrow's European session. The downward target will be the WCZ 1/2 1.3529-1.3508. The main movement during the second half of the week will be in the direction of weakening.


The material has been provided by InstaForex Company -