Shot to 1.2700 Possibility

03 April 2017, GBP/USD

Daily chart: ADX shows active trend, so we may expect upper Bollinger envelope breakout (resistance at 1.2634)

Shot to 1.2700 Possibility

Н4: here resistance level is at 1.2556 (upper Bollinger band). ADX is growing but not trending yet, so there may be possibility of rollback to 1.2464 region (middle Bollinger band).

Shot to 1.2700 Possibility

Н1: here we are observing a very strong bullish pressure that is likely to ensure shot to 1.2615 (in case of 1.2556 breakout). Considering daily chart setup we may even see rise to 1.27.

Shot to 1.2700 Possibility


Core scenario - shot to 1.27

Alternative scenario - touch of 1.2556 followed by drop to 1.2494.

Trading signals: consider buying towards 1.2700 (by 1.2556 breakout)

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