Medium-term plan.
The upward movement remains in the medium-term momentum, however, last week there was an exit point at the monthly KZ of September 1.3387-1.3341. This indicates a high probability of forming a downward model, which goal is to return to the specified zone. It is important to note that within the monthly short-term there is a short-term fault at 1.3368-1.3340, which allows the participant to accurately determine the location of fixing a short position and searching for favorable prices in purchasing an instrument.
An alternative model will develop if the pair continues to form an upward pattern, which will absorb the Friday's decline in the exchange rate. This will open a way for growth through the weekly short-term at 1.3765-1.3737.
Intraday plan.
Today, the determination of resistance is NKZ 1/2 1.3678-1.3593, which is located in the average daily course of the pair. If the rate is kept below this zone, then the target of the fall will be the weekly fault at 1.3368-1.3340. To break the downward model, you will need to move the pair above the 1.3607 level in one of the nearest American sessions. This will open the way for the renewal of September highs and further growth of the British pound rate.
Daytime CP is the daytime control zone. The zone formed by important data from the futures market, which change several times a year.
Weekly CP is the weekly control zone. The zone formed by important futures market marks , which change several times a year.
Monthly CP is the monthly control zone. This zone is a reflection of the average volatility over the past year.
