Technical analytics

GBPUSD market technical outlook

GBPUSD

Daily chart:

After impressive Friday’s fall market remains under pressure forming downswing. The closest obvious target of bears is support zone 1.2768-1.2787, from we might get a serious bounce and development of new strong upswing.

H1-chart:

Corrective upswing is developing within local structure. A perspective area for new sell-offs is PPZ 1.2887-1.2892. Thus we expect reach of this zone and then steep downward reversal.

Conclusions:

Growth in direction 1.2887-1.2892 and then start of new downswing in direction 1.2800 amd 1.2787.

Trading recommendations:

Shorts from 1.2887-1.2892 to 1.2800 and 1.2787.

 

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