Two scenarios for today | 16 12月 2016

16 12月 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.

Two scenarios for today

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)

Two scenarios for today

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).

Two scenarios for today

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.

Aleksey Panasenko
FreshForex公司的分析员
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