Technical analytics

GBPUSD market technical outlook

GBPUSD

 Daily chart:

Forming of downswing continues, which now has good chances to reverse trend to the downside. For this bears have to break the closest structure’s support at 1.2786. If this happens sterling quotes will continue the fall towards 1.2700.

H1-chart:

Local structure has downward tone already and now undergoes trending stage. Thus we can expect attack of supports 1.2800 and 1.2786 even today! And we’ll be able to evaluate the results of this attack tomorrow after daily bar close.

Conclusions:

Decline towards 1.2800 and 1.2786.

Trading recommendations:

Shorts towards 1.2800 and 1.2786.

 

 

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