Attractive 1.2250 | 23 December 2016
23 December 2016, GBP/USD
Daily chart: ADX is in trend and now the price might shift beyond lower Bollinger envelope (support level 1.2251 breakout)
Н4: there is bullish convergence, it means that it's time to correct price up to 1.2346 or even to 1.2418 (middle and upper Bollinger bands).
Н1: local support level is on lower Bollinger band (1.2257), local resistance level, here is where correction will go, is 1.2346 (upper Bollinger band).
Expectations:
Core scenario - touch of 1.2257 and later rise towards 1.2346
Alternative scenario - decline to 21st number (in case of 1.2251 breakout)
Solutions:
1. Buy from 1.2257 with short stops towards 1.2346
2. Sell at 1.2251 breakout.
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.
