Technical analytics

GBPUSD market technical outlook

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.


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.


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.


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.

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