19 October 2016, GBP/USD
Daily chart: the lower Bollinger band (1.1958) looks unfinished, but yesterday's chart was openly bullish and aimed at the middle band (1.2666)
Н4: ADX is in the active trend zone. So far it (in addition expanded Bollinger bands) can be interpreted in favor of buyers (which is in line with correction scenario towards 1.2666 on the daily chart).
Н1: here, in turn, we see divergence of the oscillator and quite exhausted bullish potential. Resistance is at 1.2327 (upper Bollinger band), support is at 1.2269 (middle band) and 1.2217 (lower Bollinger band).
The main scenario - touch of 1.2327 and then decline towards 1.2269 and possibly, 1.2217
The alternative scenario - touch of 1.2269 and rise to 1.2400
Trading solutions: duality makes us look for downward signals to 1.2327 and upward signals to 1.2269.
We are constantly improving our website quality. If you have any suggestions on how to make our website better or noticed an error on the website, please tell us