GBPUSD intraday technical analysis - 22/02/2019

GBPUSD

1.30487 / 1.30491

SUMMARY

Up

TREND

Upward penetration

SENTIMENT

Bearish

VOLATILITY

Medium

MARKET ANALYSIS

Upwards scenario: Measures of resistance might be activating when the pair approaches 1.3069 (R1). Break here would suggest next interim target at 1.3109 (R2) and If the pair keeps its momentum we would expect an exposure of 1.3150 (R3).
Downwards scenario: On the other hand, market decline below the support level at 1.3025 (S1) would shift market sentiment to the bearish side. In such scenario we expect next targets to be exposed at 1.2984 (S2) and 1.2940 (S3) later on today.

Resistance levels: 1.3069, 1.3109, 1.3150

Support levels: 1.3025, 1.2984, 1.2940