Technical analytics

GBPUSD market technical outlook

GBPUSD

Daily chart:

Forming of upswing continues in direction of the mid-term target 1.2578 (the last structure’s high). We shouldn’t forget about today’s NFP news when break of any structure might take place and shift to chaotic movements. 

H1-chart:

Local structure has the mode of consolidation in the range between support zone 1.2320-1.2324 and the last local high (1.2357). Thus we can expect flat in this channel and following upward momentum during release of the news at 15.30 Moscow time. 

Conclusions:

Flat in the 1.2320-1.2357 range and then growth towards 1.2412 and 1.2500.

Trading recommendations:

Longs from 1.2320 to 1.2412 and 1.2500.

 

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