Technical analytics

GBPUSD market technical outlook

GBPUSD

Daily chart:

Bullish swing apparently is not finished - yesterday’s session showed that buyers are ready for rapid actions and the day was closed by engulfing and a break of bullish inside bar. Thus we can expect the major at 1.3008-1.3050, where we have a very strong mid-term pivot and where a downward reversal will be highly likely.

H1-chart:

Local key resistance zone 1.2939-1.2945 was successfully broken at the time of writing also suggesting an extension of growth in direction 1.3008-1.3050 (black arrow).

Scenario with a prior correction (blue trajectory) we subsequently do not consider.

Conclusions:

Growth to 1.3008-1.3050. Then a downward reversal.

Trading recommendations:

  1. Longs to 1.3008, 1.3050.

  2. Shorts from 1.3050.

New articles