27.10.2021 05:20 AMThe GBP/USD pair is testing the monthly average control zone for the fourth time this month. Yesterday, this led to an increase in supply again. Now, there is a 75% probability to further keep the pair below the level of 1.3828.
When a trading plan is being built, it is important to consider that the pair is trading in a flat. The upper border is the monthly volatility range of 1.3828, while the support is the Weekly Control Zone 1/4 of 1.3747-1.3739. Until the support zone is broken, it is necessary to continue trading around the flat, which was formed on October 19.
It should be noted that trading in a flat means searching for buy and sell patterns from the upper and lower borders. Therefore, the closing of today's trading outside the flat zone will indicate the priority for the next 5 days.
The upward movement is still a medium-term impulse, so going beyond the lower limit of the flat will simply expand the scope of the corrective movement. The probability of consolidating above the level of 1.3828 this month is only 25%.
Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.
If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.
Why does your IP address show your location as the USA?
Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaTrade anyway.
We are sorry for any inconvenience caused by this message.
