Technical analytics

GBPUSD market technical outlook

GBPUSD

Daily chart:

Situation remains arguable. On one hand corrective upswing is completed and correspondingly bears can make a spurt from current levels to the downside in direction 1.2767-1.2787 (red arrow). On the other hand yesterday’s close was explicitly bullish, therefore we can’t rule out further growth in direction of the last structure’s high (1.2972-1.3011).

H1-chart:

Local upward structure undergoes the stage of corrective downswing building, which presumably will be completed at wide PPZ 1.2847-1.2856, from where we might consider longs within new upswing towards 1.2900.

 

Conclusions:

Decline to the 1.2847-1.2856 zone and then growth towards 1.2900.

Trading recommendations:

  1. Shorts towards 1.2847-1.2856.

  2. Longs from 1.2847-1.2856 to 1.2900.

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