Technical analytics

GBPUSD market technical outlook


Daily chart:

British pound remains in the phase of upward technical correction, that supposedly may reach the middle Bollinger band (1.2786).


Upward potential is being accumulated at the area of local dynamic resistance 1.2690 (upper Bollinger band), that may drive to impulse distribution in direction 1.2786. However ADX readings do not correspond to such scenario so far. Therefore the main phase of the movement can be postponed till tomorrow.  


Everything is ready for upward momentum within intraday time-frame - ADX stands almost in a trending zone at the 1.2692 level (upper Bollinger band). Thus today we can expect growth of the major by almost 100 pips!


Growth towards 1.2786.

Trading recommendations:

Longs towards 1.2786.


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