Technical analytics

GBPUSD market technical outlook


Daily chart:

So, after yesterday’s downward rebound from middle Bollinger band, we can make a prior statement, that bears have guarded resistance level 1.2200, that opens room for the start of new downward wave in direction 1.1911 (lower Bollinger band).


Locally an active trading down retains as well. However market can face a strong support at 1.2051 (lower Bollinger band) - and it’s going to be very hard to overcome it.


Intraday dynamics also unfolds to the downside. We expect consecutive testing of 1.2103 and then 1.2051.


Decline towards 1.2103 and 1.2051.

Trading recommendations:

Shorts towards 1.2103 and 1.2051.