Technical analytics

GBPUSD market technical outlook

GBPUSD

Daily chart:

Testing of 1.2800 drove to more than 100 pips of pullback, which eventually might cause forming of bearish inside bar (marked with yellow).

However it’s too early to assert that as new attack of buyers is still likely.

H1-chart:

Locally the major already got a disruption of upward structure suggesting probable downward reversal. However bulls can disable such scenario in case of move above the last high (1.2798, watch the black arrow).

In case of buyers’ weakness at PPZ 1.2737 we might consider shorts in direction 1.2669 (red trajectory).

 

Conclusions:

Main scenario: Touch of 1.2669 and then growth above 1.2800.

Alternative scenario: Upward pullback towards 1.2727 and then new downswing towards 1.2669.

Trading recommendations:

  1. Longs from 1.2669 to 1.2737 and 1.2800.

  2. Seeking for probable local sell signals at 1.2737.

New articles