Technical analytics

GBPUSD market technical outlook

GBPUSD
Daily chart:
British pound continues to be traded within the contracting channel 1.2967-1.3066. It looks like markets are smoothly shifting to weekend and more active development of events expects us next week.

H4-chart:

Local trading has horizontal mode and doesn’t exceed 80 pips: 1.3030-1.3110 (Bollinger bands borders).

H1-chart:

Intraday phase of the market is downward. We expect testing of the support zone 1.3030-1.3141 (lower Bollinger band) and then upward bounce in direction 1.3066.

Expectations:

Decline towards the 1.3030-1.3041 region and then upward pullback in direction 1.3066.

Trading recommendations:

  1. Shorts towards 1.3030-1.3041.

  2. Longs from the 1.3030-1.3041 zone towards 1.3066.

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