Volumetric analysis on July 10.
Traded volume over the past day looks quite significant, and the likelihood of the pair turning down therefore increased. However, it is more correct to still consider moving upwards as a priority. And only if the price falls below 1.1672, upwards trend structure should be forgotten. At this stage our previous targets are valid.
British Foreign Secretary Boris Johnson resignation news downgraded the English currency. However, upwards structure is not broken yet. Those who yesterday followed our ideas, now should be at a profit. Today we should see if the buyers remain strong. If so, then we will see the buyers' initiative, which should make the price to be above 1.3280 and further upward movement will be considered as the main one.
Yesterday movement looks like correction and we will pursue previous ideas. There is a price range of 1.3115 - 1.3175, where the seller's open interest probably remained and this means that the price growth should be limited. The closest support for the price, may be the upper limit of the range 1.3020.
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