Technical analytics

GBPUSD market technical outlook


Daily chart:

The major maintains negative forecast as trending downswing wasn’t completed. The price now is bracketed between levels of support/resistance 1.2873/1.2954. And it looks like market oscillations in this channel will continue.


Local structure has downward tone already and undergoes trending phase now. Nevertheless it’s going to be tough for bears to pass support zone 1.2873-1.2886. Besides daily swing will be completed at this region and bulls will get the chance for upward reversal.


Decline to 1.2873-1.2886 and then growth to 1.2912.

Trading recommendations:

  1. Shorts to 1.2873-1.2886.

  2. Longs from 1.2873-1.2886 to 1.2912.

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