FX.co ★ Trading forecast EUR/GBP 11/30/2017

Yesterday, the pair reached the monthly short-term at 1.3528-1.3479, which requires closing most of the purchases. The probability of forming a correctional or reversal model is increasing

Medium-term plan.

The upward movement is a medium-term impulse, hence, searching for entry points of selling is possible only after the formation of the reversal model on the lower timeframe. Until this happens, the local monthly maximum can be updated more than once. When establishing a trading plan at the end of this week, it is important to consider the fact that the pair reached the monthly control zone (KZ) of November. This significantly increases the possibility of a large supply, which could lead to depreciation to the previous weekly short-term 1.3390-1.3358.

To form an alternative model, it is required to maintain the price at current marks and ascend to the Weekly control zone (NKZ) 1/2 of 1.3566-1.3550. It will make fixing the remainder of purchases possible and consider selling the instrument above the monthly KZ.

Intraday plan.

Yesterday, there was a consolidation above the weekly short-term 1.3390-1.3358, which focused on the continuation of growth, with a probability of 70%, reaching the target at NKZ 1/2 1.3566-1.3550. The closest support level is NKZ 1/4 1.3399-1.3391, and testing this level will allow obtaining favorable purchase prices towards the direction of the medium-term impulse. The maximum zone of correction movement is located within the limits of the NKZ 1/2 of 1.3319-1.3303. While the pair is trading above these levels, the upward movement will remain impulsive.

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

* The presented market analysis is informative and does not constitute a guide to the transaction.