FX.co ★ The trading forecast of GBP/USD pair on 12/10/2017

For this week, the buyers are in control of the direction of the British pound which allows the formation of a recoil. The immediate target for growth is the weekly short-term at 1.3343 - 1.3315.

Medium-term plan.

The upcoming movement in the current week is a local impulse, which has as its goal a weekly fault 1.3343-1.3315. The test of this zone will determine the further medium-term priority. If the price is maintained below the specified zone, the downward movement will resume. One of the American sessions above 1.3343 will be closed if the downward medium-term impulse is disrupted. This will allow us to consider the monthly short-term test for October at 1.3537-1.3487 in the short term.

An alternative will be formed when a large offer is made at current levels. This will create a corrective model for the current growth and get more favorable price for the purchase of the instrument.

Intraday plan.

Two days ago, the formation of the reversal pattern occurred after the pair was able to gain a foothold above NKZ 1/2 at 1.3185-1.3171. This indicates a 70% probability of reaching a short-term at 1.3343-1.3315. The necessary factor for buyers. This will be possible with a decrease in the rate, which will be corrected to the current weekly impulse. It is important to note that the day range assumes a recoilless achievement in a weekly short-term for the year. Therefore, it makes no sense to look for opportunities to open additional positions for those who are already trading.

The daytime CP is the daytime control zone. The zone formed by important data from the futures market that change several times a year.

The weekly CP is the weekly control zone. The zone is formed by marks from important futures market which change several times a year.

The monthly CP is the monthly control zone. The zone is a reflection of the average volatility over the past year.