Possible buys | 22 December 2016

22 December 2016, GBP/USD

Daily chart: as we might see, lower Bollinger band (1.2298) still sticks to local uptrend. If yesterday inside bar would have been bullish, we would have a trading set-up here. Now we need either to buy with stops (around 1.2298), or wait extra signals to buy on shorter time frames.

Possible buys

Н4: inside bars succession indicates that there are difficulties on the way of downtrend. If the pair goes higher than middle Bollinger band (1.2388), we might expect it to go towards upper band (1.2486)

Possible buys

Н1: the pair is locally consolidated inside the horizontal corridor 1.2339-1.2388 (Bollinger bands range)

Possible buys

Expectations: flat inside 1.2339-1.2388

Solutions: consider buying around 1.2339

Aleksey Panasenko
FreshForex Analyst
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