Technical analytics

GBPUSD market technical outlook


Daily chart:

Bullish inside bar was formed at the tip of upswing, that might be interpreted as accumulation before attempt of break of the psychological resistance 1.30 (watch the black arrow).

However the size of current upswing is too big already, therefore we can’t rule a scenario with downward correction. We might consider such scenario in case of break of lower wall of the inside bar (1.2838), that will allow traders to consider mid-term shorts in direction of the pivot-zone 1.2581 (red arrow).


Local upward structure consolidates in the range of last upswing (1.2838-1.2883). Thus break of this channel in any direction will reveal real sentiment of the market for the coming days.


Main scenario: Break of the 1.2838-1.2883 range to the upside (with following settling of the price above 1.30).

Alternative scenario: Break of the 1.2838-1.2883 range to the downside (and decline in direction 1.2750 and 1.2700).

Trading recommendations:

Trading with count on break of the 1.2838-1.2883 channel in any direction.