Technical analytics

GBPUSD market technical outlook

GBPUSD

Daily chart:

Non-stop upward movement of the price is in progress. Everything goes too easy for bulls and now there are almost no doubts that we’ll see the 1.3200 mark.

But the higher this price swing grows, the closer market to correction. Though any shorts are out of the question so far. 

H1-chart:

Local upward structure is forming a slight consolidation before probable extension of growth. Accumulation range is 1.3110-1.3142. Thus today we can consider going long from 1.3110 to 1.3200.

Conclusions:

Trading in the 1.3110-1.3142 range and upward ejection to 1.3200.

Trading recommendations:

Longs from 1.3110-1.3200.