A new high and correction | 11 November 2016
11 November 2016, GBP/USD
Daily chart: ADX is in the trend aggressive zone, upon that bulls are attacking the upper Bollinger envelope. A further upward break might create a strong potential for growth toward 1.3376 in the medium run.
Н4: northern potential is also saved, so we wait when the price will reach new highs, and then a downward correction to the middle Bollinger band (1.2436).
Н1: resistance is at the upper Bollinger band (1.2631); support is on the middle band (1.2522)
Expectations: an upward move to 1.2631 and then pullback to 1.2522
Solutions: 1. Buy to 1.2631
2. Sales from 1.2631 to 1.2522
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.
