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Touch of 1.2546 expected

Touch of 1.2546 expected | 16 February 2017

16 February 2017, GBP/USD

Daily chart: ADX is coming to life, envelopes are narrowing down. We might also see local triangle pattern. We might expect distribution of accumulated potential.

Touch of 1.2546 expected

Н4: by the way, here we still have some place for flat - 1.2414-1.2546 range (Bollinger bands). The envelopes are stable, ADX is falling, so this corridor is likely to retain today.

Touch of 1.2546 expected

Н1:we are observing local bullish trend accumulation. We expect sharp price shift and touch of 1.2546, possibly followed by downward correction within Н4-flat.

Touch of 1.2546 expected

Expectations: sharp price shift towards 1.2546 and then decline to 1.2473 region.

Solutions:

1. Consider buying to 1.2546

2. Consider selling from 1.2546 to 1.2475

Aleksey Panasenko
FreshForex Analyst
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