20 12月 2016, GBP/USD
Daily chart: bullish inside bar didn't fulfill expectations and now the pair appears to be determined to touch lower Bollinger band (1.2322), from there we expect to see upward shift, because ADX doesn't react in any way to the current moves (yet). Stable Bollinger envelopes also call for such a scenario.
Н4: Bearish mood still prevails. This is shown by momentum of price movement, by aggressive ADX and by untouched lower Bollinger band, which is situated below the previous low.
Н1: locally the support level is in 1.2356 (lower Bollinger band). However, again because of strong ADX, this support level might be under pressure soon.
Expectations: we expect a decline to 1.2356 and later upward reversal towards 1.2436. As an alternative, we consider decline to 22 number.
Solutions: find possible upward entry points around 1.2356.