Technical analytics

GBPUSD market technical outlook

GBPUSD

Daily chart:

The pair remains in the area of middle Bollinger band (1.2167). It’s a flat and its range we’ll try to figure out below.

H4-chart:

Locally the downward phase of the movement is limited by support 1.2095 (lower Bollinger band).

H1-chart:

On hourly chart tendency for trading down is in place. Thus we expect testing of the 1.2095 region and market;s reaction on this zone - given active ADX the quotes can plunge deeper.

Expectations:

Decline towards 1.2095.

Trading recommendations:

  1. Shorts towards 1.2095.

  2. Seeking for probable buy signals at 1.2095.

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