FX.co ★ Control zones for GBP/USD on 04/17/20

The pair forms a downward pattern during the last two days, which may become the main movement next week. It is important to understand that it is necessary to close today's trading below weekly control zone 1/2 1.2431-1.2410 to confirm the bearish movement. This will open the sale on Monday and the goal of which will be the weekly control zone 1.2215-1.2172.

Today's growth does not exceed yesterday's maximum, so there is no violation of the downward model.

The continuation of the growth model will be developed if today's trading closes above yesterday's maximum. This will indicate that buying an instrument is needed. The first goal of growth will be the maximum of the current week. The option with the formation of the downward model will be canceled.

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.