GBPUSD – Flat
Daily chart: the last day was closed by a second bullish inside bar in a row at high price, which opens the possibility of correction to 1.2801 (middle Bollinger band), but such intense activity of ADX may mean that bears are preparing for a consolidation
Н4: much better shaped level of resistance around the upper Bollinger band (1.2419) gives the potential for a downward bounce.
Н1: another resistance level – 1.2265 (upper Bollinger band and Н4 middle bands are merged). If bulls get above, the way to 1.2419 will open. Support is on the middle band (1.2197)
The main scenario – a break above 1.2265 and start of the movement to 1.2419
The alternative scenario – touch of 1.2265 and a downward rollback to 1.2200
Trading solutions:
1 Buy trades aimed at break of 1.2265 to 1.2419
2. Sales from 1.2265 to 1.2200
You may check other analytical reviews on the web-site of FreshForex company. Source: freshforex.com.
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