Technical analytics

GBPUSD market technical outlook

GBPUSD
Daily chart:

After failed attempt to break the upper Bollinger band, bulls also let forming of bearish inside bar by the end of yesterday’s session. It’s a solid sell signal (though, of course, its strength is relative as much as the strength of any other signal against the main trend).

The closest target of decline is middle Bollinger band (1.3115).

H4-chart:

Locally the market keeps tendency for consolidation within the range of upper Bollinger bands (1.3200-1.3335).

H1-chart:

Intraday readings of ADX indicator stand at an extremely low level, therefore, probably, we’ll see calm trading within Bollinger bands (1.3219-1.3276).


Expectations:

Flat in the 1.3219-1.3276 range.

Trading recommendations:

Shorts from the 1.3276 level.


New articles