Technical analytics

GBPUSD market technical outlook


Daily chart:

A solid sell signal potentially might be formed from the round psychological level 1.3000 - bearish inside bar at the tip of upswing. Given the very big amplitude of growth such scenario is very likely.

Minimal target of decline appears PPZ 1.2810.


Local structure already has a completed corrective downswing, which right is testing the pivot-zone 1.2950-1.2954. It’s likely that during the forming of daily bearish inside bar the price will slide to support 1.2910 and from this level it will leave for retest of 1.2950-1.2954 again. 


Decline to 1.2910, then pullback to 1.2950-1.2954 and forming of bearish inside bar by the end of the day.

Trading recommendations:

  1. In short term - trades to both sides in the 1.2910-1.2954 range.

  2. In medium term - shorts from 1.2950-1.2954.