21 September 2016, GBP/USD
Daily chart: sellers are exerting some pressure on the lower Bollinger band, but so far this pressure has a non-trend character - ADX has not reached the active zone.
Н4: signs of bullish convergence of the oscillator, so the price may bounce off 1.2882 ( lower Bollinger band) and then reverse upwards. Resistance is at 1.3053 (middle Bollinger band)
Н1: also convergence and bullish inside bar from the lower Bollinger band (where potentially strong Buy signals may be). Support is at 1.2952 (lower Bollinger band), the resistance is at1.3003 (upper band). ADX contradicts the oscillator that usually means that the price is saving potential for another wave of decline
The main scenario - trading inside the corridor 1.2952-1.3003
The alternative scenario - decline to 1.2882 followed by an upward bounce
Trading solutions: look for downward signals to 1.3003 and upward signals around 1.2882 (under the alternative scenario)
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