Technical analytics

GBPUSD market technical outlook


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.


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


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.


Decline towards 1.2095.

Trading recommendations:

  1. Shorts towards 1.2095.

  2. Seeking for probable buy signals at 1.2095.

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