manager photo
Ask a question
We will be pleased to answer any questions you may have
Write Call
Close
Log in

Pound. Limited north potencial

03 November 2016, GBP/USD

Daily chart: the pair displayed in the upper Bollinger envelope, and it is directed to the upper zone (1.2581), but we see ADX adjustment that may indicate a lack of trend potential in the Northern movement.

03112016p1

H4: locally we have an active ADX, so buyers can set new highs on a considerable height from the market. It may be even a minimum increase of 100 points.

02112016p2

H1: still bullish trend, but growth occurs at extreme overbought from two indicators: ADX/RSI.

02112016p3

Expectations:we are waiting for the installation of new highs and a downward correction. Presumably, the purpose of the buyers is 1.2400-1.2450 area.

Trading solutions:

Long positions from 1.2400 Short positions from 1.2400-1.2450 (in case of short signal)
Aleksey Panasenko
FreshForex Analyst
See also:
Agree with the review?
Traders' opinion:
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .