Technical analytics

GBPUSD market technical outlook

GBPUSD
Daily chart:
Forming of the “pad” for probable upward movement continues - previous day got the close in the shape of bullish inside bar, that tells about consolidation of the market above the lower Bollinger band.

H4-chart:

Local downward phase of the movement in direction of the supports 1.3068 and 1.3024 (middle and lower Bollinger band), where bulls can regain control.

H1-chart:

We note strong intraday dynamic support at the area of lower Bollinger band (1.3068). ADX is in a corrective phase, therefore break lower is unlikely. Thus we can consider long-trades from the 1.3068 mark.

Expectations:

So, we expect touch of the 1.3068 zone and then growth in direction 1.3112.

Trading recommendations:

Longs from the 1.3068 level towards 1.3112.



New articles