FX.co ★ Control zones for GBP/USD on 08/13/20

Yesterday's decline of the pair continued the formation of a medium-term accumulation zone. The lower border of the flat is the Weekly Control Zone 1/2 1.2969-1.2948. The nearest resistance is the Weekly Control Zone 1/4 1.3123-1.3113. If the pair fails to consolidate above the specified zone, then sales will remain the main ones this week.

Working within the flat implies quick fixing of a part of the position at the nearest support and resistance levels.

An alternative growth model will be developed if today's trading closes above the WCZ 1/4. This will open the way for the pair to grow and update the monthly maximum in the near term. It is important to understand. that the growth of July remains the main direction for holding long positions.

Daily CZ - day control zone. A zone formed by important data from the futures market that changes several times a year.

Weekly CZ - weekly control zone. A zone formed by important marks of the futures market that change several times a year.

Monthly CZ - monthly control zone. A zone that reflects the average volatility over the past year.