Technical analytics

GBPUSD market technical outlook


Daily chart:

Currency pair keeps tendency for consolidation around the area of middle Bollinger band (1.2985). Contraction of the bands is well seen (lower band goes up for 20 pips a session on average and stands at the 1.2775 handle already).


Local horizontal narrowing range of trading 1.2911-1.2985 (Bollinger bands). ADX falls, that also indicates a flat market dynamics.


We note local intraday resistance 1.2963 at the upper Bollinger band, which limits today’s trading range. Thus forecast for the day is flat, we expect continuation of trading inside the 1.2911-1.2963 channel.


Flat in the 1.2911-1.12963 range.

Trading recommendations:

Seeking for short-term trades to both sides inside the 1.2911-.12963 channel.

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