GBPUSD – Flat
Daily chart: this pair continues lowering in the direction of the lower Bollinger band (1.1858), while the resistance of the middle band is reduced (now this dynamic supply level is at 1.2495, from this level you had better consider the possible sell positions).
H4: ADX is very active, so you can expect one of two scenarios: either the bears will include full revolving, not later than after touching the upper Bollinger band (1.2272) or bulls will take advantage of the situation and correct the price to 1.2495. Of course, you had better wait for the trend scenario (not reversal).
H1: the resistance is localized in the area of 1.2200 (middle Bollinger band), support – 1.2134 (lower band).
Expectations:
The main scenario – decline to 1.2134 (after touching 1.2200 zone)
Alternative scenario – growth to 1.2268-1.2272 (with a break above 1.2200)
Trading solutions: selling to 1.2134 (after the formation of short signals in the 1.2200 area)
You may check other analytical reviews on the web-site of FreshForex company. Source: freshforex.com.
The post Forex Technical Analysis: Trend potential – Pound. We are looking for new entries down appeared first on forex-analytics.press.
