Technical market overview:
The GBP/USD market continues trading in the middle of the range between the levels of 1.2996 - 1.3183 and the bulls are not that keen to break through the orange trend line anymore. The momentum remains neutral as neither bulls nor bears have control over the market and the market is now looking like a triangle pattern with additional trendline drawn on the lows from 1.2977 and 1.2986.
Weekly Pivot Points:
WR3 - 1.3339
WR2 - 1.3263
WR1 - 1.3130
Weekly Pivot - 1.3056
WS1 - 1.2826
WS2 - 1.2851
WS3 - 1.2712
Trading recommendations:
The global investors wait for the breakout in either direction and because the range is now very tight, the breakout might be severe. Please notice, the larget time frame trend remains bullish.
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