Technical analytics

GBPUSD market technical outlook

GBPUSD

Daily chart:

Potential bearish pinbar by the end of today’s session is a nice confirmation of probable inability of bulls for breaking resistance zone 1.2773-1.2810. This offer area better suits for the set of sell-offs than for being a launch pad to new highs.

Thus we can expect a start of decline in direction of the pivot-level 1.2667.

H1-chart:

Within local structure a bearish pattern Over&Under was formed with sell entry point at the penultimate high (1.2751-1.2758). Thus we expect a development of upswing to this zone with following downward reversal.

Conclusions:

Growth of the quotes to 1.2751-1.2758 and then downward reversal in direction 1.2671.

Trading recommendations:

Shorts from 1.2751-1.2758 to 1.2671.