Technical analytics

GBPUSD market technical outlook

GBPUSD

Daily chart:

Consistent decline of dynamic support in the shape of lower Bollinger band can be observed today as well. Today this level stands at 1.1911 already. Mid-term target of the markets resides right here.

H4-chart:

Weak local ADX indicates a probable continuation of sideways trend within Bollinger bands (1.2014-1.2136).

H1-chart:

Extremely weak passive intraday ADX restrains volatility of today’s session by the scope of 45 pips (1.2040-1.2085).

 

Expectations:

Flat in the 1.2040-1.2085 range.

Trading recommendations:

Shorts from 1.2085 to 1.2040.

 

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