Technical analytics

GBPUSD market technical outlook


Daily chart:

The major preserved tendency for quotes’ decline in direction of the dynamic support 1.2786 (lower Bollinger band), where we can get demand.


Lower Bollinger band is broken once again and it’s a sign of main tendency continuation (to the downside). During such movement a prior pullback towards the middle band takes place, as a rule. And we can monitor it right now.

Thus optimal point for short-trades is 1.2920.


We note local intraday resistance at the area of upper Bollinger band (1.2902). We can mark the 1.2902-1.2920 region as a strong resistance zone, where sellers regain control.


So, testing of the 1.2902-1.2920 zone is expected and then decline in direction 1.2786.

Trading recommendations:

Shorts from the 1.2902-1.2920 area towards 1.2786.