Pound. Limited north potencial | 03 November 2016
03 November 2016, GBP/USD
Daily chart: the pair displayed in the upper Bollinger envelope, and it is directed to the upper zone (1.2581), but we see ADX adjustment that may indicate a lack of trend potential in the Northern movement.
H4: locally we have an active ADX, so buyers can set new highs on a considerable height from the market. It may be even a minimum increase of 100 points.
H1: still bullish trend, but growth occurs at extreme overbought from two indicators: ADX/RSI.
Expectations:we are waiting for the installation of new highs and a downward correction. Presumably, the purpose of the buyers is 1.2400-1.2450 area.
Trading solutions:
Long positions from 1.2400 Short positions from 1.2400-1.2450 (in case of short signal)The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
