Technical analytics

GBPUSD market technical outlook

GBPUSD
Daily chart:
British pound is still being traded short in the range of lower Bollinger bands (1.2984-1.3090). This means, that any corrective upward moves can be used for seeking of local short-signals for short-trades with the trend.  

H4-chart:

We note strong local resistance level at the area of middle Bollinger band (1.3066), where sell-offs of the pound may take place in direction of the support 1.3017 (lower Bollinger band).

H1-chart:

Intraday trading can have low volatility and do not exceed the range of Bollinger bands (1.3031-1.3052).

Expectations:

Main scenario: Flat in the range 1.3031-1.3052.

Alternative scenario: Upward correction towards 1.3066 and then decline in direction 1.3017.

Trading recommendations:

Seeking for short-trades at the 1.3052 and 1.3056 levels.

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