Technical analytics

GBPUSD market technical outlook

EURUSD

Daily chart:

The major so far got stuck at the stiff pivot-zone 1.2954-1.2980. But bulls have chances to break it - upswing wasn’t formed yet and its development potential is still in place. In this case the quotes might climb toward the area of the next resistance 1.3069 (black arrow).

But we also can’t rule out a prior pullback to 1.2900 (red trajectory).

H1-chart:

Local upward structure has fully completed corrective downswing allowing to consider long trades at current levels. We expect break of resistance 1.2980.

 

 

Conclusions:

Growth to 1.3000 with aim at 1.3069.

Trading recommendations:

Longs to 1.3000 and 1.3069.

 

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