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Consider buying around 1.2106

Consider buying around 1.2106 | 13 January 2017

13 January 2017, GBP/USD

Daily chart: the pair is trapped within lower Bollinger envelope range (1.2106-1.2313). Considering declining ADX one might expect this corridor to be preserved during the day.

Consider buying around 1.2106

Н4: here we are observing bullish Over&Under pattern with upward entry point in 1.2106 (lower Bollinger band and round psychological level, such fusion increases the possibility of this set-up)

Consider buying around 1.2106

Н1: there is a validated level of 1.2106. However, another zigzag with 1.2222-1.2106 trajectory is possible allowing to sell again from 1.2222.

Consider buying around 1.2106

Expectations: one might expect decline to 1.2106 (possibly after 1.2222 has been touched)

Solutions:

1. Consider selling towards 1.2106

2. Consider buying from 1.2106

Aleksey Panasenko
FreshForex Analyst
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