Monthly reviews

Monthly GBPUSD market technical outlook

GBPUSD
Monthly chart:

The major stands in one step from exiting to the upper Bollinger bands, that opens a perspective for recovery of the british currency to the 1.4064 handle (upper Bollinger band).

At the same time, we need to note weak activity of ADX. This tells about likely delay of the market at the area of dynamic support 1.3331 (middle band).

Expectations:

So, we expect trading around the 1.3331 region as preparation for further phase of growth in direction 1.4064.

Trading recommendations:

Seeking for local buy signals in direction 1.4064.