Technical analytics

GBPUSD market technical outlook

GBPUSD

Daily chart:

Upswing looks undisputed, however its amplitude apparently will make complicated overcoming of strong resistances. The major stands right close to the psychological round level 1.2600, where probably a pullback will be triggered.

H1-chart:

There is an identical picture on hourly chart: growth is doubtless, however there are all reasons to expect development of downward correction from 1.2600 to the pivot-zone 1.2511-1.2525, where we can again consider long-trades.

Conclusions:

Testing of 1.2600 will drive to the start of correction towards 1.2511-1.2525 and after that growth of the pair will be resumed.

Trading recommendations:

  1. Shorts from 1.2600 to 1.2511-1.2525.

  2. Longs from 1.2511-1.2525.

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