Buy Pound towards 1.2750 | 26 January 2017

26 January 2017, GBP/USD

Daily chart: here we have another breakout of upper envelope along with active trending ADX which confirms general bullish momentum. 1.2737-1.2750 region may be broken today.

Buy Pound towards 1.2750

Н4: local resistance level in upper Bollinger band region (1.2668) will definitely be under pressure, as ADX here is very active.

Buy Pound towards 1.2750

Н1: here we are observing similar situation. Oscillator shows signs of divergence but I believe, this is false signal considering aggressive ADX. Shift to 27th region can be expected. Note support level at 1.2568 (middle Bollinger band), in theory, it might be attacked.

Buy Pound towards 1.2750

Expectations: shift towards 1.2737-1.2750 (possibly following touch in 1.2568)

Solutions: consider buying towards 1.2737-1.2750

Aleksey Panasenko
FreshForex Analyst
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