GBP/USD pair is looking for a favorable buy pattern

The GBP/USD pair is in the phase of forming an upward momentum unlike the EUR/USD pair. So, only a strong impulse decline at today's European session can disrupt this structure.

If the quotes do not decline, then the upward movement will continue in the area of the Weekly Control Zone of 1/4 1.3561-1.3553. The upward trend is a priority. The WCZ of 1.3789-1.3755 remains the upward target. Trading based on this pattern guarantees a favorable risk-to-reward ratio. It is important to understand that there is a 30% probability to completely implement the upward movement this week, so it is necessary to be prepared to transfer purchases through the weekend.

analytics615d3f1ddc257.jpg

The probability of selling profitably from the current levels is below 30%, so it is better not to consider short positions. One should focus their attention on finding a pattern to buy. The probability of updating yesterday's high is 80%.

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

from RobotFX
- Need a custom expert advisor?
- Try the Complex Trader EA.

Share this:

Forward
Backward