16 September 2016, GBP/USD
Daily chart: yesterday bulls did not allow the price to test the lower Bollinger band, indicating that the overall structure is maintaining northern character. But ADX is completely passive and corrective, so the upward movement may be multi-directional.
Н4: local resistance is at the middle Bollinger band (1.3241). ADX contradicts to RSI, so this level may drop the pair below. If bulls break through into the top envelope, they will open a way to 1.3344 (upper Bollinger band)
Н1: very active ADX, which can relate both to bulls and bears. But the overall advantage on all three frames belongs to buyers. Resistance 1.3274 (upper Bollinger band) may be under load.
The main scenario - growth to 1.3274
The alternative scenario - a breakthrough even higher to 1.3344 (extraday)
Trading solutions: buy towards 1.3274 and 1.3344.
Aleksey PanasenkoAnalyst of «FreshForex» company
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