Technical analytics

GBPUSD market technical outlook

Daily chart:
British pound is still being traded short in the range of lower Bollinger bands (1.2984-1.3090). This means, that any corrective upward moves can be used for seeking of local short-signals for short-trades with the trend.  


We note strong local resistance level at the area of middle Bollinger band (1.3066), where sell-offs of the pound may take place in direction of the support 1.3017 (lower Bollinger band).


Intraday trading can have low volatility and do not exceed the range of Bollinger bands (1.3031-1.3052).


Main scenario: Flat in the range 1.3031-1.3052.

Alternative scenario: Upward correction towards 1.3066 and then decline in direction 1.3017.

Trading recommendations:

Seeking for short-trades at the 1.3052 and 1.3056 levels.