FX.co ★ Trading plan for GBP/USD on December 27, 2021

The GBP/USD pair formed an upward reversal pattern during the previous week. There is a 75% probability of resuming this growth. Any decline should be used to find entry points to purchase.

A weekly candlestick built after the end of Friday's trading indicates the formation of an absorption pattern. This means an 80% probability of updating last week's high. Based on these statistics, it would be reasonable to look for entry points when the instrument falls.

The upward target is the Weekly Control Zone of 1.3551-1.3517. It is possible to find the most favorable prices today when testing WCZ 1/4 1.3349-1.3341.

It should be remembered that the decline will remain a long-term impulse, so the weekly short-term test obliges to close most of the purchases. In two weeks, the probability of the formation of a downward movement will increase.