GBPUSD Short-term Technical Outlook
Yesterday's short-term technical outlook:
Price did not quite get up to the 1.2313 resistance figure, however it did hold its downside bias as expected. Exposing new lows intraday price confirms this pair is still in a downtrend and that sellers are in control.
Now look to see price remain below 1.2305 to keep sellers in control.
Look to see price remain below resistance trend line for continued selling intraday.
A push up into resistance will likely be matched by swift selling and another downside push is likely.
Next downside target is the 1.2141 institutional support figure.
I hope this offers some directional clarity on this pair!
Enjoy!
Price did not quite get up to the 1.2313 resistance figure, however it did hold its downside bias as expected. Exposing new lows intraday price confirms this pair is still in a downtrend and that sellers are in control.
Now look to see price remain below 1.2305 to keep sellers in control.
Look to see price remain below resistance trend line for continued selling intraday.
A push up into resistance will likely be matched by swift selling and another downside push is likely.
Next downside target is the 1.2141 institutional support figure.
I hope this offers some directional clarity on this pair!
Enjoy!
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