Technical analytics

GBPUSD market technical outlook

GBPUSD

 Daily chart:

The major has tested long-term resistance 1.3011 and stalled. If this stop will trigger forming of bearish inside bar by the end of today’s session, we’ll get a mighty signal of downward reversal for tomorrow.

H1-chart:

Local upward structure got fully completed corrective downswing with bullish pin at the tip right now. It’s a long-setup. Thus from current levels we can get an attack of resistance 1.3010 and further settling of bulls above this zone.

Conclusions:

Break above 1.3010 and further growth in direction 1.3050 and 1.3100.

Trading recommendations:

Longs towards 1.3050 and 1.3100.

 

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