FX.co ★ Control zones for GBP/USD on 12/10/19

Over the past three days, a local accumulation zone has been formed. Developing within this zone involves buying from the lower boundary and selling from the upper ones. Moreover, it is important to understand that sales will open in the direction of corrective movement, and thus, their potential is estimated below purchases.

The first target zone of decline will be the Weekly Control Zone 1/4 1.3084-1.3075. Testing of which will determine the further priority. If the pair continues to trade above the specified zone, then the probability of updating the December maximum remains 75%.

An alternative model will be developed if the closing of today's trading occurs below the level of 1.3075. This will open the way for further correctional decline to Weekly Control Zone 1/2 1.2988-1.2969, which will not violate the upward medium-term impulse and will allow us to obtain more favorable purchase prices.

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.