GBPUSD – Flat
Daily chart: there occurred upper Bollinger envelope break, this is a distinct bullish signal. However, ADX hasn’t reached trend state yet, so there is still chance of preliminary downside rollback towards 1.2300 (middle Bollinger band). Buyers’ target is in 1.2658 region.
Н4: We are observing a very aggressive ADX along with overbought oscillator. That’s a big question whether bulls will allow price correction to middle Bollinger band (1.2360).
Н1: there is localized support in 1.2463 region (middle Bollinger band). If bullish potential will be confirmed, pound is highly unlikely to slop lower
Expectations: rise towards 1.2658 (possibly following touching 1.2463)
Solutions: consider buying towards 1.2658 (the best entry point may be 1.2463)
You may check other analytical reviews on the web-site of FreshForex company. Source: freshforex.com.
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