22 November 2016, GBP/USD
Daily chart: the pair is aimed at the upper Bollinger band (1.2642), but, in view of falling ADX, bulls may have not enough potential to take a further breakthrough. Support is at the middle Bollinger band (1.2378)
Н4: a local downward movement within a horizontal channel 1.2307-1.2529 is initiated. Targets for drop are 1.2419 and 1.2307 (middle and lower Bollinger bands).
Н1: another better shaped support around bottom Bollinger band (1.2378). Thus, the area 1.2378-1.2419 can provide a dense area of demand for the British pound, with an upward reversal by 100 points.
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