Technical analytics

GBPUSD market technical outlook

GBPUSD
Daily chart:
Trading goes on background of high volatility, that was triggered by new talks of british parliament about Brexit. Technically, market resides in a wide consolidation range between the support 1.2950 and resistance 1.3300.

H4-chart:

Local phase of the market is downward. Resistance 1.3227 at upper Bollinger band yesterday was confident enough, making the market to rebound downwards, therefore testing of the lower band (1.2952) looks logical.

H1-chart:

Intraday we note contraction of trading range within Bollinger bands (1.3024-1.3163), that probably will keep on today and will become the boundaries, that will define further break of the quotes in any of directions.

Expectations:

Volatile flat in the 1.3024-1.3163 range.

Trading recommendations:

Seeking for signals at the 1.3024-1.3163 zone.

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