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27.10.202003:50 Análisis del mercado Forex: Prospects for GBPUSD. The accumulation phase continues.

Last week, another flat pattern was formed, which continued the medium-term phase. The implementation of the priority ascending pattern has been completed and the weekly CZ 1.3202 - 1.3154 has been tested. This allows us to view the decline as an opportunity to find favorable purchase prices. Today the pair continues to trade within the upward movement that took place on October 21. While the instrument is trading within the specified range, the probability of a retest of last week's high is 75%. This should be used when determining the priority direction of trade.

Exchange Rates 27.10.2020 analysis

The most favorable purchase prices are within the WCZ 1/2 1.2936-1.2912. A decline to this zone will allow entering purchases with a favorable risk-reward ratio. The first target of growth remains the high of the last week, which is also the monthly extreme.

Working in a flat implies partial fixing of profits when the boundaries of the weekly movement are reached. Part of the position can be transferred to breakeven and left in case the upward movement continues. To break the bullish movement, today's trading will need to close below the WCZ 1/2.

Exchange Rates 27.10.2020 analysis

*El análisis de mercado publicado aquí tiene la finalidad de incrementar su conocimiento, más no darle instrucciones para realizar una operación.

Samanta Kruder,
Experto Analítico
Grupo InstaForex © 2007-2021
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