Technical analytics

GBPUSD market technical outlook

GBPUSD

Daily chart:

Market of course entirely depends on Brexit news now, therefore moves might be steep and mixed. From technical analysis point of view key confirming levels are boundaries of the last upswing  (1.2787-1.2903).

In case of upward break pound will recover another 100 pips and will move towards the last high (1.3011). And if we get break of support 1.2787, this will confirm a downward reversal.

H1-chart:

After false downward break of support-zone 1.2833-1.2840 (watch the round mark), the quotes of sterling again recover and follow the trending swing. Thus the move above 1.2903 is highly likely.

Conclusions:

So, we expect a break above 1.2903 and further growth in direction 1.3011.

Trading recommendations:

Longs towards 1.3011. 

 

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