Technical analytics

GBPUSD market technical outlook


Daily chart:

The major has continued the flat around the area of middle Bollinger band (1.2700). But in general the market remains under pressure, that can put the quotes down to the 1.2594 level (lower Bollinger band) in the nearest future.


Local dynamic support stands at the 1.2660 level (lower Bollinger band). ADX readings do not correspond to potential break, therefore we can expect upward bounce off this zone.


Within intraday time-frame the pair is poised to test PPZ 1.2700, where the sellers are definitely going to be very active. But we are not supposed to consider the targets below the 1.2660 mark today.


So, we expect touch of the 1.2702 level and then decline of the quotes towards 1.2660.

Trading recommendations:

Shorts from 1.2702 towards 1.2660.


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