GBP/USD is trading outside of the monthly volatility zones

The rapid growth of the Pound continues. The pair has already moved beyond the monthly volatility. This fact increases the probability of a correction movement to 90%. The 1.4100 level becomes the target level. The further the price moves away from this mark in the next two days, the greater the size of the correction decline will be. You can search for a sell pattern in the WCZ 1/4 test 1.4186 to 1.4177.


The target of the downward correction movement may also be the WCZ 1/2 1.4048 to 1.4029. Movement within this zone will not disrupt the upward momentum. It is important to understand that growth is a strong medium-term momentum structure so its reversal will take more than a month. This means that purchases will be more profitable in the first half of March. For purchases, you need to search for favorable prices and test the junior control zones.

The material has been provided by InstaForex Company -