Technical analytics

GBPUSD market technical outlook

GBPUSD

Daily chart: 

So, bulls fulfilled the minimal demand: they broke last high of downward structure having intercepted attempt of bears to reverse trend to the downside. Now there is nothing to do except for waiting for an attack of round level 1.30. And this attack most likely will be successful, that might drive in turn to a new phase of an upward rally! 

H1-chart:

Local upward structure has good bullish rhythm and momentum and undergoes another trending phase now. Thus here we also can expect a break of the last high.

Now we have only one question - whether psychological level 1.30 is capable to stop this growth?

Conclusions:

Growth towards 1.30 and probably higher.

Trading recommendations:

Longs towards 1.30 and higher.

 

New articles