Since 16 May 2019, the 1.2765-1.2815 zone has been in front of us as an important barrier for GBPUSD parity. The parity cannot exceed the region in question, thus ensuring that negative expectations are on the agenda. With this in mind, the lowest figure for 2019 may raise the potential expectation towards 1.2421. On a short – term basis, it may wish to maintain the thought effect towards 1,2605-1.2560 level with negative expectation in the envelope indicator accompaniment. The main trend is to continue the negative trend below the upper point of the band 1.2715.
Main scenario: GBPUSD parity may wish to continue its short-term negative outlook under 1.2715 resistance points. Supports 1,2605 and 1,2560 are possible levels that can be targeted with this idea. Sales could accelerate to 1.2421 level, the lowest figure for 2019, if the level of 1.2510 is broken down.
Alternative Scenario: In order for the GBPUSD parity to generate a positive course, the level of 1.2715 should be crossed upwards. However, with this condition, rising towards 1.2765 and 1.22815 levels can be monitored. It should be noted that in order for the relevant rising to turn into a strong expectation as a trend, it must exceed the 1,2765 – 1,2815 region which has not been passed since May 16, 2019.
Support: 1,2605 – 1,2560 – 1,2510
Resistance: 1,2640 – 1,2680 – 1,2715