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Bulls' advantage

Bulls' advantage | 06 December 2016

06 December 2016, GBP/USD

Daily chart: the pair is highly likely to go up. There might be a push of strong resistance level 1.2850, after what shifting to mid-term goal of 1.3375. In case of such scenario a rollback towards middle Bollinger band (1.2519) is possible

Bulls' advantage

Н4: The pair is too overbought for rapid direct growth, so a rollback from resistance level 1.2805 to 1.2649 looks quite reasonable.

Bulls' advantage

Н1: horizontal corridor is 1.2701-1.2753, but there is bullish ADX. That's why a rise may start from support levels 1.2727 and 1.2701.

Bulls' advantage

Expectations: wait for a rise from 1.2701-1.2727 towards 1.2805 (and, perhaps, towards 1.2850)

Solutions: buy in the range from 1.2701-1.2727 to 1.2805 and, perhaps, to 1.2850.

Aleksey Panasenko
FreshForex Analyst
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