Technical analytics

GBPUSD market technical outlook

GBPUSD

Daily chart:

The major keeps the mode of potential accumulation at the area of middle Bollinger band (1.2700-1.2717). Bulls have some advantage in position, that allows to cover the distance to the upper band (1.2835).

H4-chart:

Locally the daily trading range is limited by the boundaries of upper Bollinger bands (1.2700-1.2751) - ADX indicator doesn’t express trending potential.

H1-chart:

As we see flat forecast for today is going to be the primary - intraday trading goes on the back of weak ADX within 32-pips channel 1.2700-1.2732, where most likely the whole today’s session will pass.

 

Expectations:

Flat in the 1.2700-1.2732 range.

Trading recommendations:

Trading in the 1.2700-1.2732 channel.

 

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