A flat movement is formed on the GBP/USD pair on the third day, which indicates a balance in the number of limit buyers and sellers. It should be noted that leaving the zone with a pin will indicate further trading direction.
Today, the pair is in between two significant zones. The Weekly Control Zone 1/2 1.3283-1.3266 acts as support, which was already tested on Friday. Meanwhile, the Weekly Control Zone 1/4 1.3371-1.3363 acts as resistance.
As long as the pair is trading in a range and there is no direction, neither buying nor selling is profitable. In order to open a safe trade, it is necessary to close the day trading outside one of these zones.
Any of the above options will be beneficial. It is important that we can determine the further direction. If the pair continues to trade flat, it is better to look for opportunities on other instruments that are already forming growth patterns against the US dollar. The pattern of a "false breakdown" of any of the extremes will only strengthen the further movement in the opposite direction.The material has been provided by InstaForex Company - www.instaforex.com