Growth before news release

05.02.2021

Daily chart: the pair bounced off the lower Bollinger band to form a bullish pinbar. This allows the pound to recover today towards the 1.3752 zone (the upper Bollinger band merging with the entry zone of the bearish O&U reversal pattern).

Н4: local Bollinger envelopes remain a horizontal channel, which enhances the relevance of resistance in the 1.3713-1.3730 zone. Meanwhile, testing of the 1.3752 zone, of course, cannot be excluded either. Of course, the pair will also feel today’s news from the United States.

Н1: during the day, the bulls break through the upper Bollinger envelope, which allows them to work up to 16-30 Moscow time, when the American statistics are published.

Conclusions: growth in the direction of 1.3730, 1.3752, then a downward reversal to 1.3600.
Trading solutions:
1. Buy to 1.3730, 1.3752.
2. Sales from 1.3752 to 1.3600.