FX.co ★ Trading forecast of the currency pair GBP/USD for July 26, 2017

The second week is the formation of an accumulation zone, where the nearest extremes come to the fore. It is important to note that there has been no disturbance of the upward momentum, so retaining long positions remains a priority.

Medium-term plan.

The impulse from two weeks ago remains the basis for building further trading plans. Last week, a correction model was formed. To continue the growth requires holding the pair above the minimum of last week. If this happens, then the update of the monthly maximum will be only the first goal on the path of growth of the British pound. The next medium-term goal remains the monthly short-term of 1.3345-1.3294.

An alternative model will develop in the event that the price fixes below the opening point of the current week's trading. This will open the way for the fall to the weekly short-term fault of 1.2789-1.2756. The test of which will help to understand the further medium-term prospects of the instrument.

Intraday plan.

The upward movement continues to be a priority, as the price was kept above the NKZ 1/2 1.2957-1.2941. It should be noted that two days earlier there was a breakdown of NKZ 1/4 1.3024-1.3016, and for those who trade intraday ranges, an additional pattern for the purchase of the instrument appeared. The first goal of growth is the monthly maximum. To disrupt the upward model, a breakdown and consolidation below the level of 1.2941 at one of the American sessions will be required. This will allow you to search for sales both inside the day and in the medium term.

Daytime short-term fault is the daytime control zone. The zone formed by important data from the future market, which change several times a year.

Weekly short-term fault is the weekly control zone. The zone formed by important future market marks, which change several times a year.

Monthly short-term fault is the monthly control zone. The zone, which is a reflection of the average volatility over the past year.