This week was dictated by the sellers. This is evidenced by the proposal, which can be observed on the approach course to the level of balance in March 1.6725. Over the past three days course continued balance between 1.6550-1.6450 monthly fault and carrying a mark that does not negate the flat dynamics, however, gives rise to speak about a continuing decline in the monthly frame faults. In anticipation of the expiry of the futures contract may be the first step when exiting the medium accumulation zone, within which the course is moving for 3 months. While GBPUSD is trading below book mark, medium priority traffic inside the flat is down. The first target level can be regarded as a mark 1.6550. Priority model at the end of this week.
It is important to understand that the transition to a new contract in 70% of cases leads to a change in the current dynamics that allows us to consider any, even intraday reversal pattern as a determinant. In this regard, worth close attention to movements in the junior time period. Yesterday was an important event that confirms the downward trend. Day 1.6692-1.6681 fault has been tested, then it is possible to observe an increased bid. In result, the rate continued to fall and is now the target zone 1.6543-1.6521 weekly fault, which lies within the month fault that makes it even more important support. Priority intraday model.
It is important to understand that the transition to a new contract in 70% of cases leads to a change in the current dynamics that allows us to consider any, even intraday reversal pattern as a determinant. In this regard, worth close attention to movements in the junior time period. Yesterday was an important event that confirms the downward trend. Day 1.6692-1.6681 fault has been tested, then it is possible to observe an increased bid. In result, the rate continued to fall and is now the target zone 1.6543-1.6521 weekly fault, which lies within the month fault that makes it even more important support. Priority intraday model.