Technical analytics

GBPUSD market technical outlook

GBPUSD

Daily chart:

Upward technical correction mar reach middle Bollinger band (1.2235). At the same time overall downward potential of the market preserves: lower Bollinger band stands at 1.1185. 

H4-chart:

Local upward potential grows. The closest target of bulls is pivot-zone 1.2151. In case of break of this level we might expect further growth of the quotes towards 1.2235. 

H1-chart:

On hourly chart we also observe bullish consolidation of the market inside upper Bollinger bands (1.2100-1.2151).

Expectations:

Main scenario: Flat in the 1.2100-1.2151 range.

Alternative scenario: Break above 1.2151 and growth towards 1.2200.

Trading recommendations:

Longs from 1.2100 to 1.2151 and 1.2200. 

 

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