The upward movement of the GBP/USD pair is still a medium-term impulse. Last Friday, a favorable price was obtained to buy the instrument. Now, there is an 80% probability of updating the October high.
The above-mentioned facts indicate the need to hold the purchase of the instrument to the monthly extreme. When updating the high, partial fixation of purchases will be required. The rest must be converted to breakeven, in case a "false breakdown" pattern of the daily level is formed.
The pair is trading within the monthly zone of the average move, so when the October high is updated, the probability of a large supply will significantly increase. To date, sales are not profitable, so it is necessary to hold purchases and concentrate on finding favorable prices to open additional long positions if one is not a buyer.The material has been provided by InstaForex Company - www.instaforex.com