Technical analytics

GBPUSD market technical outlook


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. 


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. 


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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