Technical analysis of GBP/USD for 12/04/2019

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.


The material has been provided by InstaForex Company -

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