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07.09.202105:25 Forex Analysis & Reviews: Implementation of the ascending GBP/USD pattern

It can be recalled that buying the GBP/USD after the close of trading above the Weekly Control Zone 1/2 1.3790-1.3773 was recommended last week. The pattern continues to form this week.

It is necessary to adhere to the plan. The upward target is the WCZ 1.3979-1.3945. After reaching this zone, it is possible to fix from 70 to 100% of the position. If one needs to find favorable prices for the purchase, then the nearest zone will be the Weekly Control Zone 1/4 1.3805-1.3797. And while the pair is trading above the level of 1.3797, the upward movement remains impulsive.

Exchange Rates 07.09.2021 analysis

Any sell pattern of the instrument is highly risky. There is a 75% probability of updating the September high. Selling the instrument will not be profitable as long as the bullish pattern is forming.

There is no need to spread looking for a reversal in such a strong impulse movement. Before the formation of absorption, the monthly high will be broken, so purchases are profitable.

*这里的市场分析是为了增加您对市场的了解,而不是给出交易的指示。

Samanta Kruder,
Analytical expert of InstaForex
© 2007-2022
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