Technical analytics

GBPUSD market technical outlook

GBPUSD

Daily chart:

So, we’ve got an interesting situation! Downswing was fully completed yesterday! With a false break of bullish inside bar to the downside! This is the strongest buy signal in total.

Thus we can expect start of the sterling quotes’ growth towards resistance at 1.2969-1.2983.

H1-chart:

Local structure remains downward so far, but in case current hour is closed by bullish inside bar, we’ll get an excellent confirmation of upward reversal.

The target in this case will be at 1.2892-1.2900.

Growth in direction 1.2892-1.2900.

Trading recommendations:

Longs towards 1.2892-1.2900.

 

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