16 December 2016, GBP/USD
Daily chart: lower Bollinger band (1.2322) is not touched yet, so buyers waiting for correction should be careful because pair can touch such levels impulsively.
Н4: ADX/RSI parameters are correctional. Moreover, bulls managed to make inside bar in the area of lower Bollinger band. That makes it possible to force rollback to middle Bollinger band (1.2590)
Н1: more localized resistance level is 1.2507 (upper Bollinger band). ADX is strong, so all the attention is focused on resistance level 1.2435 (middle band).
Expectations:
Core scenario - if pair breaks 1.2435, we expect it to go higher to 1.2507-1.2536
Alternative scenario - if the pair reverses in 1.2435, we expect it to decline further towards 1.2369.
Solutions: buy\sell according to one of the scenarios.
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