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Bullish potential remains

Bullish potential remains | 26 August 2016

26 August 2016, GBP/USD

Daily chart: ADX is very active and is close to the trendline area, so the upper Bollinger band (1.3361) may be under significant load, which in turn will lead to a breakthrough of the upper Bollinger envelope. But if this level withstands, we will see another pullback to the middle band (1.3115)

Bullish potential remains

Н4: also aggressive ADX, but growth is taking place on divergence of the oscillator, therefore, so there is no potential for a break above 1.3361.

Bullish potential remains

Н1: a better shaped resistance 1.3222, next resistance level - 1.3259. Again, we have trend status of ADX.

Bullish potential remains

Expectations: now, we are waiting for growth to 1.3259 and maybe toward 1.3361

Solutions: buy to 1.3259 and possibly to 1.3361.

Aleksey Panasenko
FreshForex Analyst
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