Technical analytics

GBPUSD market technical outlook

GBPUSD
Daily chart:

Negative dynamics of the market in direction of lower Bollinger band (1.1936) persists.

H4-chart:

Local downward phase of the market on the back of growing bearish ADX is also a sign of probable drop of the major below the psychological support 1.20. 

H1-chart:

Strong trending ADX also speaks for further sell-offs and probable break of support 1.2013. 

Expectations:

Decline in direction 1.1936.

Trading recommendations:

Shorts towards 1.1936.

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