Trading range 1.2200-1.2240

21.05.2021

Daily chart: the upper Bollinger band (1.4251) has not been tested, so this probability will persist. There is a strong area of resistance in the indicated zone, which, during the last testing, provoked a drop in quotations by more than 500 points.

Н4: the local trading range has a sideways character and is limited by the size of Bollinger envelopes (1.4106-1.4226). The ADX trend potential is at a high level, but it may well be realized in the specified 120-point corridor.

H1: The round support level of 1.2200 is in the lower Bollinger band, which will help to support the possible demand for the pound here. Resistance is 1.2240. During the day, this corridor may be enough.

Conclusions: flat in the range 1.2200-1.2240.
Trading solutions: purchases from 1.2200 to 1.2240.