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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
Analyst of «FreshForex» company
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