GBPUSD – Bulls maintain control

19.07.2023

Daily: strong bullish pressure on the pair remains, indicating a high probability of a high update. Strong resistance on the way is 1.3150 (upper Bollinger band).

H4: we confirm the barrier at 1.3150, where the confluence of the daily and H4 upper Bollinger Bands is taking place. Also here the bears have a chance to form a double top, so they will have a reason to fight.

H1: a pronounced breakdown of the upper Bollinger envelope leaves almost no chance for the sellers. The optimal buying zone today is the middle Bollinger band (1.3084).

Conclusions: pullback to 1.3084, then growth to 1.3150.

Recommendations: Buy from 1.3084 to 1.3150.