GBPUSD reversal on an uptrend

07.12.2021

Daily: There is a high likelihood of the market moving into bullish sentiment. The pair tested the lower Bollinger envelope. A clear bullish inside bar has also formed, giving a strong buy signal. The nearest target of sellers is the middle Bollinger band (1.3362).

Н4: Here GBPUSD is already in the upper Bollinger envelope, so it is logical to also wait for the testing of the upper line (1.3326).

Н1: The upper Bollinger band has not been broken yet, but support at the middle band 1.3264 still looks promising for placing orders, taking into account all observations on higher timeframes.

Conclusions: Growth to 1.3326.

Solution: Purchases towards 1.3326.