Fight of opposites | 01 Febrero 2017

01 Febrero 2017, GBP/USD

Daily chart: at the moment the pair is within upper Bollinger envelope range (1.2377-1.2700). There is bullish momentum but ADX is very passive. That's why we are expecting flat.

Fight of opposites

Н4: the pair is inside flat corridor of 1.2448-1.2619 (Bollinger envelopes range). Here we also have reversal Over&Under pattern but not very strong. We would, of course, appreciate more clear arguments for downside reversal. That's why see what happens to support level at 1.2448. If it is weak, bears will get positional advantage for further decline.

Fight of opposites

Н1: here we are observing bullish Over&Under with upward entry point at 1.2464. ADX is growing and is close to trend. Well, that's a tough day full of traps and contradictions.

Fight of opposites

Expectations:

Core scenario - decline to 1.2464 and later rise towards 1.2619

Alternative scenario - downside breakout of 1.2448 and further decline to 23 region

Solutions:

1. Consider selling to 1.2464

2. Consider buying from 1.2464 to 1.2619. Stops are lower than 1.2400

Aleksey Panasenko
Analista de la empresa" FreshForex
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