Monthly reviews

GBPUSD market technical outlook

GBPUSD

Monthly chart:

The chart of british pound almost copies the chart of euro quotes, therefore we can make similar conclusions - either corrective upswing in direction 1.3845 or further decline (in case of piercing the support 1.2661).


Conclusions:

Main scenario: Continuation of decline under 1.2661 and reach of the 1.21-1.22 area.

Alternative scenario: New upswing in direction 1.3845.

Trading recommendations:

Search for any confirming signals for both scenarios on intermediate time-frames.