On Friday, the pair tested the weekly control zone 1.1884-1.1841. This made it possible to earn a favorable price for sale. Now, sales can already be converted to breakeven. In case of a retest, a new entry will be required if a sell pattern is formed. At the end of last week, a local accumulation zone was formed, which opens up the possibility for the correction of an upper period.
Developing within the accumulation zone implies sales from the upper boundary with the continuation of the medium-term bearish momentum.
An alternative model will be developed if today's trading closes above the weekly control zone. This will open the direction for further growth and the formation of a deeper correction to the current medium-term decline. So far, developing in the growth's direction of the British pound should be executed with a partial closing of purchases at each of the important resistance levels.
Daily CZ - daily control zone. The zone formed by important data from the futures market that changes several times a year.
Weekly CZ - weekly control zone. The zone formed by the important marks of the futures market, which change several times a year.
Monthly CZ - monthly control zone. The zone that reflects the average volatility over the past year.
