HomeContributorsTechnical AnalysisTechnical Outlook: GBPUSD – Downside Remains Vulnerable After Triple Upside Failure

Technical Outlook: GBPUSD – Downside Remains Vulnerable After Triple Upside Failure

Repeated failure to clearly break into daily cloud limited by 10SMA/Tenkan-sen and left triple-top at 1.3228, keeping the downside at risk.

Mixed setup of daily studies (indicators are in negative territory/slow stochastic continues to head north) sees no clear n/t direction while the price is holding between 1.3151 (55SMA) and 1.3214 (10SMA).

Also, daily cloud is thickening and weighs.

UK GDP data on Wednesday are in focus for stronger direction signal. First downside trigger lies at 1.3181 (session low), followed by 55SMA (1.3151) and sustained break here would generate fresh bearish signal for extension towards last Friday’s low at 1.3087 and 100SMA at 1.3051.

Conversely lift above triggers at 1.3214/28 (10SMA/upside rejections) would spark fresh upside for probes above 1.3257 pivot (daily cloud top), break of which will be bullish.

Res: 1.3214, 1.3228, 1.3257, 1.3286
Sup: 1.3181, 1.3151, 1.3087, 1.3051

Windsor Brokers Ltd
Windsor Brokers Ltdhttp://www.windsorbrokers.com/
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