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.
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.
H1: still bullish trend, but growth occurs at extreme overbought from two indicators: ADX/RSI.
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.
Long positions from 1.2400 Short positions from 1.2400-1.2450 (in case of short signal)
Aleksey PanasenkoAnalyst of «FreshForex» company
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